" Every month, we're breaking through the ceiling on occupancy rates, and the outlook for the coming months is excellent. "Barthélémy Bauters, Sales Director of the Hôtel des Arts Saigon, an MGallery property managed by the Accor group, is totally satisfied. " Ho Chi Minh City is an astonishingly dynamic metropolis, with a population whose standard of living is rising rapidly. This, of course, creates demand for luxury hotels. "he says.
Last year, the American magazine Forbes indicated that Vietnam was only eleven years behind China's level of development, and the gap is narrowing steadily, with annual growth of over 5% accelerating last year (6.5%). In 2018, the feat should be repeated with a growth rate of over 6.5%.
The former Saigon has done even better. According to the People's Municipal Committee - the term used in Vietnam to designate the municipal administration - Ho Chi Minh City's GDP has grown by an average of 10.7% in recent years, 1.6 times the national average. Ho Chi Minh City now contributes 21.6% of the national GDP. Its share was just 16.7% twenty years ago.
Last January, the Vietnamese government passed a law which, for the first time in 30 years, gives broad powers to the metropolis of South Vietnam. It allows Ho Chi Minh City to manage your own investmentsThe city would become the Vietnamese counterpart of Hong Kong to the rest of China. The city would become the Vietnamese counterpart of Hong Kong to the rest of China. Which only adds to the attractiveness of Saigon as a destination, with more and more businessmen looking for contracts...
In the first quarter of 2018 hotel occupancy rates jumped six points to 76%. And according to property company Savills Vietnam, room prices have risen by an average of 4%, with all hotels having recently increased their prices, from local three-star to luxury five-star. This is the first time this has happened in three years.
The number of hotels is growing rapidly, offering more than 16,500 rooms. From here 202014 new projects will add a further 3,500 rooms in the city. As a result, international chains are gaining a foothold in the market.
In May, the Singaporean group Sedona has opened a hotel residence in the renovated Saigon Centre Tower. The residence offers 195 luxury suites. IHG to open a hotel of the brand Indigo in 2019. The most prestigious hotel in the former capital of South Vietnam will certainly be the Mandarin Oriental. Scheduled to open in 2020, the 227-room hotel will occupy one of the city's most prestigious locations, right next to the former Saigon City Hall.
The same year, Mövenpick - from now on under the leadership of AccorHotels - will inaugurate a hotel with a very contemporary look. Located along the Rach Dia River, in the southern districts of Ho Chi Minh City, the four-star establishment will offer one of the largest capacities in the city, with 815 rooms and flats.
Finally, there is the Saint Simon Resort in Vung Tau - formerly Cap St Jacques - a seaside town two hours' drive from Ho Chi Minh City. The luxury hotel complex will open in early 2019 under the brand name Best Western Premier Collection.
