Hanoi hotel market posts good performance in Q1

Hanoi's hospitality market experienced positive momentum in the first quarter of the year, with average occupancy rate reaching 76%, a notable 11% year-on-year increase, according to the latest report from real estate consultant Savills Vietnam.

The average room rate slightly increased compared to the same period in the previous years.

The growth was driven by a surge in international arrivals, particularly from China. Vietnam welcomed 6 million foreign visitors in the first quarter, up 29.6% year-on-year. China became the largest source of visitors with 1.58 million, soaring 78.3% year-on-year.

Hanoi alone served 1.85 million foreign tourists, a year-on-year rise of 17.4%.

Looking ahead, the market is set to welcome nearly 12,000 new rooms, with supply focused on the western districts and surrounding areas, driven by the anticipated entry of several major international hotel brands.