Vietnam’s hotel transactions reached US$237 million in January June 2016, putting the country on the fourth place with only Japan, Australia and mainland China ahead. The hospitality industry of the country managed to overcome Taiwan and Thailand.
The amount of total transactions added 13.2% if compared to the same period a year ago and estimated US$3.8 billion. Japan remains the most important player on Vietnamese hospitality market with US$2.1 billion and it expected to remain the biggest investor for the remainder of the year.
Vietnam has become more popular with tourists this year the country welcomed 21% more visitors during the first half of 2016. The government hopes to reach the mark of 8.5 million foreign visitors for the year. That is 7% higher than in 2015.
Some of the biggest hotel deals of the year in Vietnam include the sale of the Duxton Hotel Saigon in Ho Chi Minh City downtown for $49 million and the sale of 50% stake in Kumho Asiana Plaza hotel complex for $107.5 million. In spring, the Novotel Saigon Centre hotel was sold to a Vietnamese investor for more than $46 million, and the Sedona Suites Hanoi hotel was bought by BRG Group for $31.5 million.