Many owners cannot maintain operation of their hotels during the epidemic and want to sell them.

The hotel market in Viet Nam this year is expected to face a severe decline in room occupancy due to the COVID-19 pandemic and will not recover until next year, industry experts have said.

VietNamNet Bridge - A ‘hotel road’ has taken shape in Da Nang as investors are taking advantage of the strong rise of the local tourism industry.

VietNamNet Bridge - The hotel market has been growing quickly, with the number of projects developed by foreign investors and managed by foreign brands increasing from 30 in 2010 to 79 by the end of 2017.

 VietNamNet Bridge – As many as 91 percent of offices for lease in Ho Chi Minh City was filled in the third quarter of this year, the highest level in the past five years,

A recent study by CBRE showed that the luxury hotel market in Phu Quoc Island has had a more impressive performance than other major tourist cities in Vietnam such as Phan Thiet, Nha Trang, Vung Tau, Da Nang, Hanoi and Ho Chi Minh City.

 VietNamNet Bridge – Hanoi currently has 8,150 hotel rooms and there will be an additional 700 available on the market this year, according to Savills Vietnam’s quarter-one report.