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| Both occupancy rate and revenue per available room (RevPAR) of hotels in HCM City fell slightly in the third quarter due to increase in room numbers and lower demand. |
According to a survey by property services provider Savills Vietnam, the average occupancy was 60 per cent, down 2 per cent from the previous quarter and 5 per cent year-on-year.
The average room rate (ARR) was at VND1.75 million (US$83)/room/ night, a slide of 1 per cent and 6 per cent and the lowest rate in the last four years.
RevPAR for all three grades decreased, with the three-star segment seeing the sharpest drop of 8 per cent quarter-on-quarter, followed by 6 per cent for the four-star segment, and 2 per cent for five-star.
One new four-star hotel and 95 additional rooms in an existing three-star hotel in District 1 entered the market.
As of the third quarter there were more than 12,100 rooms in 90 hotels, a 2 per cent increase quarter-on-quarter and 5 per cent year-on-year.
International visitor numbers to the city also reduced, falling 1 per cent year-on-year in the third quarter to 892,540.
In the next two quarters the market is expected to add more than 1,300 new rooms in four hotels, all five-star and located in District 1.
A report released by Grant Thornton on October 16 said the hotel industry in the country as a whole achieved a year-on-year growth of 4.2 per cent in RevPAR in the first half to $56.6.
The increase was attributed to an average occupancy growth rate of 4.1 per cent and a small increase in average room rate of 0.1 per cent, the report said.
The five-star segment achieved a better performance in the period than a year earlier with a significant RevPAR surge of 15.6 per cent, mainly due to a rise in occupancy rate of 5.5 per cent.
A 0.4 per cent decrease in RevPAR for three-Star hotels was attributed to a reduction of 4.1 per cent in the occupancy rate.
The four-star segment increased its average rate by 4.7 per cent.
Overall, average room rates rose marginally to $88.35.
But they were down by 2.3 per cent compared with the full-year average room rate in 2012.
When classifying average room rates by region, the Central and Highlands saw the highest rise of 5.8 per cent to $92.20.
The north and south saw declines of 5.3 and 3.4 per cent.
Room rates were down 5.9 and 1.8 per cent in Hanoi and HCM City.
But Phan Thiet saw a jump of 8.3 per cent to $106.95.