Vietnam's luxury hotel sector is undergoing strong growth, with several projects under construction adding thousands of rooms to the market, notably at the resort development of Phu Quoc.
Hotel sector sees improvement
In the past few months, work began on the five-star hotel Crowne Plaza Phu Quoc and the four-star Novotel Phu Quoc Resort. In 2010, Phu Quoc only had 1,000 hotel rooms. The had number tripled by the end of 2015.
In November 2015, the US-based Carlson Rezidor Hotel Group signed on a contract to develop Raddision Blu Cam Ranh hotel project in Nha Trang, which will be opened in 2019. Nha Trang City also witnessed the development of various luxury hotel projects.
The General Statistic Office said the number of international tourists reached 732,740 in November, up 12.9 percent on previous month and 20.4 percent on a year earlier.
Property company Savills Vietnam said occupancy rate growth in luxury hotels in Hanoi and HCM City are 15 percent and 7 percent per quarter, respectively.
