According to Savills Hotels under Savills Group - one of the world's leading property advisors, the sector’s recovery is taking place from different perspectives. In Ha Noi and Ho Chi Minh City, hotels are improving revenue mainly through higher room prices, while coastal destinations such as Nha Trang, Phu Quoc, Cam Ranh, and Ha Long are recording sharp increases in occupancy rates.

Mauro Gasparotti, Director at Savills Hotels Asia Pacific, in charge of Southeast Asia, stated that Viet Nam’s hospitality market is entering a new cycle as both average room rates and occupancy have improved significantly.

According to the Viet Nam National Authority of Tourism (VNAT), in the first eight months of 2025, Viet Nam welcomed nearly 14 million foreign visitors, up 21.7% year-on-year, and served about 106 million domestic travelers, with total tourism revenue estimated at 707 trillion VND (26.7 billion USD).

VNAT Deputy Director Ha Van Sieu affirmed that after the pandemic, Viet Nam’s tourism has made a remarkable recovery, achieving and surpassing planned targets, and has been recognised by the Government as one of the bright spots in the country’s economic landscape. Viet Nam has also been assessed by the ASEAN Secretariat as the fastest-recovering tourism destination in the region, reaching 98% of pre-pandemic levels.

Gasparotti noted that the hospitality industry is entering a phase that requires new development plans with a greater focus on service quality, particularly in key destinations such as Ho Chi Minh City, Ha Noi, and coastal tourist hubs like Da Nang and Phu Quoc.

In Ho Chi Minh City, for example, the expansion of administrative boundaries along with plans for infrastructure and aviation development are creating major opportunities to diversify hospitality products, ranging from standard hotels and design-focused hotels to long-stay accommodation models, branded residences, and mixed-use project complexes.

Alongside the growth of the international tourist market, Viet Nam’s tourism and hospitality industry is expected to expand strongly, laying a foundation for the diversification of hotel types, including the lifestyle segment and select-service hotels