10.12.2020, 23:07

Savills: Hotel revenue decreased by 70%

Savills: Hotel revenue decreased by 70%

Source: Savills Vietnam

In HCMC, occupancy is currently less than 20%, lower than most other Asian cities; decreased sharply from 72% in 2019. In Hanoi, in the past 2 months, room occupancy has reached nearly 35% thanks to local businesses gradually recovering business activities and long-term accommodation The term increased as well as registered accommodation establishments providing quarantine services.

Mr. Mauro Gasparotti, Director of Savills Hotels Asia – Pacific, said that despite some significant improvements in hotel resort sales in Da Nang, Nha Trang, Phu Quoc, the whole market will be difficult to overcome. The capacity threshold of 25%, except for some resorts near major cities, may be 10 – 15 percentage points higher than the market average.

Representatives of Savills said that the market recovered quite slowly, only really increased at the weekend and the days of the week were still quite low. All hotels have focused on cutting costs in order to reach their break-even point, with only a few having positive results this year. However, Savills expects 2021 to recover, mainly in the third and fourth quarters, when travel restrictions are loosened and the tourism market will recover.

Source: ndh.vn – Translated by fintel.vn