Hotel Market in Vietnam Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Vietnam  Hotel Market Market Analysis Forecast 2022-2026

The Vietnam hotel market size is expected to increase by USD 2.12 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.43%.This hotel market research report of Vietnam provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the hotel market segmentation in Vietnam by type (chain hotels and independent hotels) and application (tourist accommodation and official business). The hotel market report of Vietnam also offers information on several market vendors, including Accor SA, Central Plaza Hotel Public Co. Ltd., Hyatt Hotels Corp., InterContinental Hotels Group, La Siesta Premium Hang Be, Marriott International Inc., Minor International PCL, Muong Thanh Hospitality, SALA DANANG BEACH HOTEL, and Vinpearl among others.

What will the Hotel Market Size in Vietnam be During the Forecast Period?

Download the Free Report Sample 

Hotel Market In Vietnam: Key Drivers and Challenges

The growing affordability and rising disposable income are notably driving the hotel market growth in Vietnam, although factors such as climate change and unexpected weather developments may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hotel industry in Vietnam. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Hotel Market Driver in Vietnam

Growing affordability and rising disposable income are some of the key factors driving the global hotel market growth in Vietnam. The growth is attributed to the significant increase in the per capita disposable income and steady economic growth in Vietnam. The per capita income increased, even when the COVID-19 pandemic in 2020 had negatively impacted the economy. Moreover, the gradual reduction in inequality (GINI coefficient) of per capita income across different classes will also improve an individual's spending capability. The improved spending capability of end-users and their rapidly increasing population (especially the population of working women) will drive market growth in Vietnam even further during the forecast period.

Key Hotel Market Challenge in Vietnam

Climate change and unexpected weather developments are some of the key challenges to the global hotel market growth in Vietnam. The high incidence of natural disasters such as tropical hurricanes, floods, and rising sea-water levels and the rising cases of COVID-19 could pose a serious challenge to the revenue of the international tourism industry, which can affect the revenue of the hotel market in Vietnam. Natural disasters severely deteriorate the tourism infrastructure, resources, and buildings. For instance, drought and salinity intrusion in the delta area of the Mekong river in Vietnam has damaged the livelihoods in the region. In addition, rebuilding the tourism infrastructure is an expensive and highly time-consuming process. Environmental disasters that affect agriculture, biodiversity, human health, and the tourism industry, involve a recovery period of 20 to 24 months, whereas any political unrest takes about 27 months to recover. Such factors are expected to impede the growth of the market in focus during the forecast period.

This hotel market analysis report of Vietnam also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

What are the Revenue-generating Type Segments in the Hotel Market in Vietnam?

To gain further insights on the market contribution of various segments Request for a FREE sample

The hotel market share growth in Vietnam by the chain hotels segment will be significant during the forecast period. The consistent growth in the travel and tourism industry and high investment in 5-star and 4-star hotels due to an increase in the propensity for leisure stays in Vietnam will drive the growth in this segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the hotel market size in Vietnam and actionable market insights on post COVID-19 impact on each segment.

Who are the Major Hotel Market Vendors in Vietnam?

The hotel market forecast report of Vietnam offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Accor SA
• Central Plaza Hotel Public Co. Ltd.
• Hyatt Hotels Corp.
• InterContinental Hotels Group
• La Siesta Premium Hang Be
• Marriott International Inc.
• Minor International PCL
• Muong Thanh Hospitality
• SALA DANANG BEACH HOTEL
• Vinpearl

This statistical study of the hotel market in Vietnam encompasses successful business strategies deployed by the key vendors. The hotel market in Vietnam is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

You may be interested in similar reports by geography:

Indonesia Tourism and Hotel market - The market share is expected to increase by USD 21.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.81%.

China Tourism and Hotel market - The market share is expected to increase by USD 24.23 billion from 2021 to 2026 at a CAGR of 11.81%. 

Request for a FREE sample

What are the Key Data Covered in this Hotel Market Report of Vietnam?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the hotel market growth in Vietnam during the next five years
• Precise estimation of the hotel market size in Vietnam and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of hotel market vendors in Vietnam 

We can help! Our analysts can customize this report to meet your requirements. Get in touch