Vietnam’s hotel industry remains on a solid growth trajectory despite Covid19, according to the TOPHOTELPROJECTS construction database, with new properties set to open in established destinations around the country.
Our research indicates that no fewer than 116 hotels with a total of 43,947 rooms are currently in Vietnam’s project pipeline.
We find out more about the upcoming openings and which ones to keep on your watchlist.
Busy years ahead for the hotel industry
The database indicates that 116 hotel projects are currently in the pipeline in Vietnam:
Vietnam’s hotel sector will experience a significant growth spurt in the latter half of 2020, the data suggests – 44 launches with 14,325 rooms are planned before the end of the year.
As it stands, these openings are expected to go ahead as planned despite the country’s tourism industry being heavily hit by the coronavirus crisis. However, it’s likely that some of these projects will be delayed since only 11 of the 44 are currently in the pre-opening phase.
Even without taking possibly delayed projects into account, another 29 hotels with 9,829 rooms will begin welcoming guests from 2021, and 18 more projects with 12,251 keys are due for completion in 2022. The pipeline for 2023 and beyond has 25 hotels with 2,542 rooms, but more will likely be added in the meantime.
72 of the 116 projects will be in the four-star segment, adding 21,104 rooms to the mix. The remaining 44 hotels will be five-star properties and contribute 22,843 more keys to the country’s expanding inventory.
Vietnam’s five fastest growing hotel markets
Ho Chi Minh City, also known as Saigon, is Vietnam’s economic capital and will see the largest number of new openings. Our database indicates that 18 additional hotels will launch here, contributing 4,601 more rooms to the city’s overall offering.
Elsewhere, Phu Quoc, a relatively new resort destination off Vietnam’s southern coast, will get nine properties with 2,203 rooms. And the popular beach towns of Cam Ranh and Hoi An, as well as the capital Hanoi, will each see eight properties open, bringing with them 3,907, 2,281 and 1,845 rooms respectively.
Which hotel brands are expanding most rapidly?
While many international hotel brands are keen to get a slice of the Vietnamese hotel market cake, three of them seem to be doing a particularly good job.
Accor’s Movenpick Hotels & Resorts is planning seven properties with 2,543 rooms; Eastin Hotels, part of Absolute Hotel Services, will add six hotels with 2,000 keys; and Melia Hotels & Resorts is looking to realise five projects with 1,147 rooms.
Exciting new hotels to look forward to in Vietnam
Of the many noteworthy projects going on in Vietnam, the following ones are especially interesting.
The 7,500-key Mui Dinh Eco-Resort just a few hours south of Cam Ranh will launch in early 2022. Inspired by the region’s rich history, tribal culture and architecture, the design comprises six resort hotels as well as a boutique unit. The property will include 7,000 guestrooms and 500 ocean-facing villas in addition to amenities like a theme park, casino, beach club and mountain clubhouse.
Perfectly located on the idyllic Ha Long City waterfront, just a short distance from Ha Long Bay’s cruise port, Best Western Plus Ha Long Bay Hotel will offer 327 rooms and suites from Q3 2020. Many of them will showcase Ha Long Bay’s spectacular seascapes via panoramic windows and balconies. An impressive collection of onsite facilities here includes a variety of dining options, a spacious fitness centre, an infinity pool, a kids’ club and several retail outlets.
From September 2020, meanwhile, the 434-key Hyatt Regency Nha Trang promises to be an ideal base for guests to relax while staying connected to the heart of the city. Overlooking the crystal-blue waters of Nha Trang Bay, the hotel is steps away from the City Conference Centre and must-see attractions such as Long Son pagoda, Nha Trang Cathedral and the Po Nagar Cham Towers.
Lastly, Regent Phu Quoc is a spectacular waterfront property that will bring true luxury to this fast-emerging lifestyle destination. From late 2020, it will offer 400 spacious hotel rooms and private residences, with each villa including a private swimming pool and magnificent sea views. Regent Phu Quoc will also offer world-class dining options, spectacular private beaches, a luxury spa, pool and gym facilities.
Let’s take a look at some more upcoming hotel projects in Vietnam:
