The TOPHOTELPROJECTS construction database reveals that Vietnam’s hotel market will grow steadily, with schemes lined up for both established and emerging destinations.
With 123 hotel projects and 51,515 rooms in the pipeline, Vietnam’s hospitality market will keep seeing steady progress in the coming years, according to our researchers. We take a closer look at the country’s development slate.
Vietnam’s hotel openings by year
In 2021, 32 hotels with 11,993 rooms will go live, of which ten properties are already in the pre-opening phase. A further 27 schemes and 18,303 keys are due for completion in 2022, while 26 hotels with 6,859 keys have been earmarked for 2023, and 38 projects and 14,360 rooms are already on the books for 2024 and beyond.
Of Vietnam’s 123 new hotels, 74 will be in the four-star category, while the remaining 49 will be in the five-star segment.
Top urban hotel markets in Vietnam
Ho Chi Minh City, southern Vietnam’s economic powerhouse, will see the most growth among urban markets, with 17 new hotels and 5,064 additional rooms on their way. But the beach town of Nha Trang takes the lead in terms of room count, with 5,304 extra keys split across just ten properties.
Danang and the capital Hanoi will also get ten new hotels each, albeit with just 2,800 and 2,364 keys respectively. Finally, seven projects with 5,618 keys have been pencilled in for Phan Thiet, an emerging seaside destination in south-eastern Vietnam.
Key brands expanding in Vietnam
While many international hotel brands are busy growing their foothold in Vietnam, two stand out from the crowd because of their unusually high activity levels.
Leading the way is Accor’s Mövenpick Hotels & Resorts brand, which will launch no fewer than nine properties with 2,442 keys in the coming years. And Minor Hotels’ Avani flag is also very active – it’s currently working on four projects with 1,578 rooms.
Vietnam’s most exciting new hotels
While a launch date is yet to be announced, it’s already clear that Empire City Hotel in Ho Chi Minh City will become a major new landmark upon opening. This 300-room hotel will boast an impressive cloud garden and observation deck, plus stunning interior design by Callison RTKL, and form part of a new neighbourhood offering everything from apartments, offices and shopping malls to schools and medical facilities. The hotel itself will be in the Empire 88 Tower, which will sit on the shores of the Saigon River and reach a height of 333 metres.
Set to open in Q3 2023, meanwhile, Rosewood Hoi An will be situated just south of charming Hoi An, one of South-East Asia’s best-preserved old trading ports and a Unesco World Heritage Site. This beachfront resort will offer 100 rooms and residences, five of which will incorporate dedicated spa treatment rooms. A spacious spa, several dining options and an elegant events space will complete the offering.
Lastly, just off Vietnam’s southern coast, the 100-room Lux* Phu Quoc will open by mid-2022 – visitors can look forward to enjoying luxurious amenities, proximity to the beach and daring design by Blink Design Group. Travellers only began flocking to Phu Quoc once the island’s international airport opened a few years ago. Since then, hotel development here has gone through the roof, with more and more high-profile brands offering guests access to the area’s white-sand beaches and relatively untouched snorkelling grounds.
Many TOPHOTELNEWS articles draw on exclusive information from the TOPHOTELPROJECTS construction database. This subscription-based product includes details of thousands of hotel projects around the world, along with the key decision-makers behind them. Please note, our data may differ from records held by other organisations. Generally, the database focuses on four- and five-star schemes of significant scale; tracks projects in either the vision, pre-planning, planning, under-construction, pre-opening or newly opened phase; and covers newbuilds, extensions, refurbishments and conversions.
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