High-end hotel boom in Nha Trang set to continue
Update: Mar 10, 2015
Around 3,200 rooms in six four- and five-star hotels will enter the market in Nha Trang this year, according to property services provider Savills Viet Nam.
A view of Vinpearl Resort in Nha Trang

With the opening of two four-star and one five-star properties last year, there are over 4,000 rooms available now, a 24-percent rise from 2013.

Since 2007, the number of international visitors to central Khanh Hoa province, whose capital is Nha Trang, has risen by 18 percent annually. Last year there were more than 850,000 besides 2.8 million domestic visitors.

The hotel market's performance was weaker in 2014 than the previous year due to the sharp increase in number of rooms and belt tightening by Russian tourists, the most numerous of all foreign visitors. The occupancy rate dipped by 6 percentage points to 70 percent.

Besides, last year the average room rate at four- and five-state hotels too slid by a huge 14 percent to 2.7 million VND (126 USD) per night.

Both segments thus saw a decrease in revenue per available room to around 3 million VND/room/night for five-star and 1 million VND for four-star hotels.