Vietnam Tourism : Potential Market but Not Fully Exploited
Tourism development creates momentum to promote the development of transportation, infrastructure, accommodation, and food and beverage industries, while creating a large consumer market, contributing to GDP growth and attracting foreign currency. In Vietnam, tourism is identified as a key economic sector.
Before the Covid-19 pandemic, the number of foreign tourists to Vietnam increased continuously and reached 18 million in 2019, equivalent to Singapore (19 million) and South Korea (17.5 million). At that time, international tourism accounted for 80% of the number of international air passengers entering and leaving Vietnam. The tourism industry contributed up to 9.2% of the gross domestic product, creating direct jobs for 2.5 million people and indirect jobs for about 2 million people in related sectors.
According to recent data from the General Statistics Office, international visitors to Vietnam in 2022 will reach about 3.7 million, of which visitors from Asia account for a large number with nearly 3 million. However, compared to other countries such as Thailand (11 million), Indonesia (5.5 million) ... Vietnam still has a lot of untapped potential despite possessing a strong attraction for international tourists. Focusing on exploiting high-end tourists with high spending power such as international visitors from Europe, America, Russia, Korea ... is an issue of concern.
In Khanh Hoa , one of the localities that developed tourism very early, in 2021-2022, the supply of 4-5 star hotels increased by 4,000 rooms, bringing the total number of rooms in this segment to 25,000 rooms, accounting for 50% of the total number of rooms in the whole province, initially achieving the goal of returning to the 7.2 million tourist milestone with 50% of international visitors of the "golden age" of 2019. However, the international 5-star hotel segment still accounts for a low proportion. Before 2021, there were only names such as Intercontinental, Sheraton, Amiana, Evason Mandara... In fact, international 5-star hotels are an inevitable trend in attracting FDI capital and the tourism industry is developing rapidly.
International 5-star hotels - The "backbone" of tourism
International 5-star hotels are always strong, with occupancy rates always at a high level. In Nha Trang, hotels such as Intercontinental, Amiana... are always "full" with room rates starting from 3.5 million VND/night even at the low season in March 2023. Meanwhile, at Melia Ho Tram, the current room rate is 4.5 million VND/night for the lowest room category.
With a strategy to attract international 5-star guests, in early 2021, KDI Holdings Group announced its cooperation with hotel management and operation group Melía Hotels International (MHI) at Vega City Nha Trang. Melía Hotels International with more than 65 years of history and nearly 400 global locations has achieved high efficiency with an occupancy rate of about 65% in 2019. Melía Hotels International's occupancy rate in Vietnam is also at the top of the MHI chain in the world in the first quarter of 2019, reaching 71.2% - a dream number for the 5-star hotel industry.
International 5-star hotel real estate
Located in the center of the Vega City Nha Trang art, resort and entertainment complex in Bai Tien area, Melia Nha Trang also introduces a new type of real estate: international 5-star hotel real estate. In terms of lifestyle, this is a limited upgrade of current hotel apartments in Vietnam. In terms of location, Melia Nha Trang is a rare combination of beachfront real estate and central real estate.
Melia Nha Trang dedicates 8 floors to amenities and is cleverly designed to provide a unique "dual" view of both the sea and the mountains from all angles. Ideally located at the intersection of Tran Phu center and Bac Van Phong area, Vega City Nha Trang and Melia Nha Trang are considered a notable international intersection recently, contributing to completing the high-end tourism puzzle of Nha Trang, thereby promoting the position of Nha Trang in general and Bac Nha Trang in particular.
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