Foreign Investors Seize Opportunities in Vietnam's Affordable Hotel Market
Foreign investors are capitalizing on the low costs of hospitality properties in Vietnam to acquire hotels and resorts. Marriott International and Vinpearl recently signed a deal for seven hotels and resorts in Vietnam.
Lodgis Hospitality Holdings also partnered with Hanwha Group to invest in hotel projects in several Asian countries, including Vietnam. The stronger presence of foreign firms in Vietnam’s hospitality industry comes not only from good prices but also the potential for tourism recovery and development in the long term.
Despite the global economic uncertainty, foreign tourists are still planning to visit Vietnam. The long-term recovery and growth prospects for tourism are considered bright. According to Colliers Vietnam, Ho Chi Minh City, along with Singapore, Bangkok, and Bali, will be the markets leading Asia’s tourism recovery.