Viet Nam is gaining popularity as top global destination

Tuesday, September 25, 2018

Viet Nam is quickly gaining popularity as a top global travel destination and a key focus market for international hotel groups.

 
Currently, the country is being placed among the 10 fastest growing tourist destinations in the world, according to the UNWTO’s 2018 Tourism Highlights Report.

 
Last year, tourist numbers increased by 19 per cent to 86 million, while the number of international arrivals increased by a whopping 29 per cent.

 
The luxury hotel sector is seeing better times with EBITDA (earnings before interest, taxes, depreciation and amortization) since last year increasing by 1.7 per cent.

 
As Viet Nam’s tourism market grows, international operators would continue to be an integral part of this expansion, said Mauro Gasparotti, the director of Savills Hotels Asia Pacific.

 
In 2010 there were 30 hotels operated by international brands, and at the end of 2017 there were 79, and more are expected to enter the market this year.

 
A particularly large increase in the number of international hoteliers was observed this year. More brands like Holiday Inn and Doubletree by Hilton, Courtyard by Marriott and Hyatt Place will enter the market.

 
“We will also see newly created brands such as hotels specifically targeting millennial, wellness, tech-savvy, and senior travellers,” Gasparotti said.

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