Dozens of Danang hotel sales notices are published on property trading websites. Most of the hotels are located in Ngu Hanh Son and Son Tra districts. Properties also include 4-5 star resorts and hotels.
The hotels in Danang
The number of travellers to Danang remains lower than before Covid-19. Meanwhile, rising interest rates have increased the pressure on hotel operators.
A broker in Son Tra who is seeking to sell a 17-floor hotel at the price of VND100 billion (USD4.03 million) said many people asked her to help sell their hotels as they are struggling with escalating interest rates.
Nguyen Duc Lap, head of the Danang Real Estate Research and Training Institute, said that the tourism sector has been severely affected by the Covid-19 pandemic, particularly in relation to large inbound markets such as China. In addition, the legal frameworks for the management of tourism real estate properties such as condotels, tourism villas and shophouses have not yet been issued.
Earlier during the peak Covid-19 period, a range of hotels in Danang were also put up for sale.
