Hotel prices in Hanoi are gradually increasing, averaging 2.5 million VND/room/night.

According to Savills' report, in the first half of 2023, Vietnam welcomed 70 million tourists , reaching 63% of the 2023 target. Of which, there were 64 million domestic visitors, up 5% year-on-year and 5.6 million international visitors, up 826% year-on-year.

Of which, Korean visitors accounted for the largest proportion of 29% with 1.6 million arrivals, followed by China with 10% and the US with 7%.

Room rates and hotel occupancy rates in Hanoi are increasing, but have not yet recovered to before the pandemic. (Photo: 24h)

After international flights resumed in March 2023, 557,000 Chinese visitors came to Vietnam, 77% lower than in the first half of 2019.

Also according to Savills, Hanoi welcomed 12 million visitors, up 5% year-on-year and reaching 55% of the 2023 target. The number of domestic visitors reached 10 million, equivalent to 53% of the 2023 target.

The number of international visitors reached 2 million, equivalent to 66% of the 2023 target but still lower than the 2019 level.

Vietnam is updating its new visa policies to attract more foreign tourists. From August 15, 2023, Vietnam will increase the validity of e-visas from 30 days with a single entry to 90 days with multiple entries.

Mr. Troy Griffiths, Deputy General Director of Savills Vietnam, assessed: International visitors have not fully returned and Chinese visitors are still below 2019 levels.

“While the new visa policy will support growth, the market is not expected to fully recover until after 2024,” said Troy Griffiths.

Faced with this situation, hotel room prices in Hanoi have recovered, but have not yet fully recovered from the COVID-19 pandemic.

Savills' report shows that Hanoi's total hotel supply reached 10,962 rooms, up 7% quarter-on-quarter and 10% year-on-year.

Three hotels with 633 rooms are rated 5 stars, including international brands such as Dolce by Wyndham Hanoi Golden Lake and Grand Mercure Hanoi. One hotel with 133 rooms is rated 4 stars.

In Q2/2023 alone, occupancy reached 62%, but was still lower than the 73% of Q2/2019. Average rental price reached VND2.5 million/room/night, down 6% QoQ but up 26% YoY after the recovery slowed down.

Source: https://www.congluan.vn/gia-khach-san-o-ha-noi-dang-nhich-dan-binh-quan-25-trieu-dong-phong-dem-post256932.html