Apr 8, 2012

Vietnam - Tu Liem Dist to become centre of luxury hotels in Hanoi: Savills

Savills Vietnam’s latest report showed that in Q1 of 2012, total supply of Hanoi hotel market was 7,250 rooms, up 1% slightly against the previous quarter, according to Vietnam Investment Review.

Hanoi hotel market was still in peak season, however the leasing capacity and average rental fell 5% and 7% respectively compared with Q4 of 2011. The group of 3-star hotels reached the highest leasing capacity, followed by 5-star hotels and 4-star hotels. Revenue on each room was 915,000 dong, down 16% on quarter.

Savills reported that Hanoi will have 42 hotels in future, including 23 projects to provide around 6,600 rooms to the market. Most future projects are centralized in Tu Liem District, offering 3,500 rooms equalling to over 50% of total hotel room supply. Most are luxury hotels with average scope of 400 rooms each.

In Q2 of 2012, Candeo Hotel Hanoi in Doi Can Street and Intercontinental Hanoi Landmark in Pham Hung Street will join the market with total 450 rooms.

VietBiz24

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