Ho Chi Minh City 5-star hotel rates see significant increase

Hotel rates in Ho Chi Minh City have seen a significant increase, particularly in the 5-star segment. According to Q3 reports from Savills Vietnam and Avison Young, average room rates for 3-5 star hotels reached approximately 2.4 million VND per night, a 20% increase compared to the same period last year.

In the 5-star segment, average prices are around 250 USD per night with occupancy rates between 75% and 80%. The 4-star segment averages 150 USD per night with occupancy between 72% and 78%. While overall occupancy for 3-5 star hotels dipped slightly to 70% due to seasonal factors, performance remains 20% higher than the previous year.

Demand is concentrated in central areas like District 1, favored by both tourists visiting landmarks and business travelers. Growth is expected to continue into Q4, driven by international arrivals from China, South Korea, Japan, ASEAN, India, and Europe.