Hotel Business Reports High Profit, Hotel Stock Price Up
Hotel services in Vietnam have posted high profit in recent time proved that the sector has a very bright prospect, said a survey by Grant Thornton Vietnam Auditing and Financial Consultancy.
In 2006, hospitality companies posted average net profit/total revenue ratio of 21.1 per cent for four-star hotels, 39.7 per cent for five-star hotels, much higher than that of three-star hotels.
Ho Chi Minh City alone still lacks 14,000 internationally-standardized hotel rooms by 2010, bringing more opportunities for local and foreign investors to invest in the service.
The 3-5 star hotel price increased by 15 per cent in the recent years, and up 26 per cent on year in the first five months of this year.
SGH price has accelerated to VND150,000 today Aug 22 from VND107,000 in July, or 40.2 per cent. (Laborer, Youth)
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