The hotel market is experiencing impressive growth with significant Revenue Per Available Room improvements, according to hospitality advisory and investment Savills Hotels.
In the first seven months of the year, the RevPAR index surged by 15% compared to the same period last year, among the strongest growth rates in Southeast Asia.
This has been primarily fuelled by a sharp increase in occupancy rates. The recovery in occupancy rates is particularly strong at popular beach destinations such as Nha Trang-Cam Ranh and Phu Quoc, where they have been 40-50%, driven by a big rebound in international tourist arrivals.
Source: Vietnam News Agency