Grant Thornton Announces 2009 Vietnam Hotel Survey

Grant Thornton Vietnam released an annual survey on Vietnam Hotel 2009 on June 8 with a focus on last year’s economic turndown impacts on the local tourism industry.

The survey, which covered 69 three-to five-star hotels and resorts, stated that hotel operators saw 2009 as an extremely difficult year in the wake of the global financial crisis. Most of the operators suffered reductions in room rates, occupancy and profits.

The average room rates for high-end hotels in the country last year decreased by 31.9% on year, while the occupancy rate was 4.3% decline overall.

While both three-and four-star hotels also witnessed room rates fall by 2.9% and 12.1%, according to the survey.

Five-star occupancy fell by an average of 6.3% and four-star occupancy was down 14.1%. But it actually increased by 2.1% for three-star hotels, as demand moved towards the less expensive categories.

Revenue Per Available Room (RevPAR), the standard industry measure of hotel utilization and return, showed an overall decrease from $68.50 in 2008 to $44.63, a 34.8% fall.

The biggest decrease was seen in five-star hotels, which dropped by 37.7%, while the rate for four-star hotels is24.3% and three-star hotels by 0.9%.

The very low use of online booking by guests continued last year with only 12.1% of room stays attributed to internet sales.

By September 2009, Vietnam had 303 three- to five-star hotels, including 32 five-star hotels and 92 four-star hotels.

The country aims to welcome between 4.5 million and 4.6 million foreign travelers and earn tourism revenues of between $4 billion and $4.5 billion this year. – VNS

Tags: 2009 Vietnam Hotel Survey, Vietnam hotels, Vietnam Tourism