Five-star Room Rates up 9.6 per cent in 2008
Average room rates at Vietnam’s five-star hotels grew by 9.6 per cent last year from 2007 despite the largest decline in occupancy rates in four years to 14.2 per cent, according to the latest report by consulting firm Grant Thornton Vietnam.
The Vietnam Hotel Survey for 2009, released Tuesday, studied 50-three to five-star hotels and resorts across Vietnam.
The report showed that average room rates at three and four-star hotels increased by 1.5 per cent and 14.5 per cent in the year although the room occupancy rates dropped by 8.6 per cent and 13.4 per cent respectively on-year.
The survey found 2008 was a turbulent period for hotel operators in the country due to a sharp decline in international travel as a result of the global economic downturn.
Vietnamese hotel room rates are forecast to fall this year because of global economic pressures. Lower occupancy rates may also reduce room rates this year, an official from Grant Thornton said.
Grant Thornton Vietnam is a part of the global consulting firm Grant Thornton International Ltd.
Vietnam welcomed 1.6 million international visitors in the first five months of this year, down 18.8 per cent on-year. (Investment)
Vietnamese
