Hospitality Investment Conference Vietnam 2017
Uncovering the hospitality investment opportunity in Vietnam
Thank you for being a part of the inaugural Hospitality Investment Conference Vietnam 2016.
The two-day conference brought together close to 140 decision makers from 11 different countries with the same goal of understanding what opportunities in the hospitality sector the Vietnamese market has to offer. We had the honour of having Dr. Ha Van Sieu, Vice Chairman of the Vietnam National Administration of Tourism (VNAT) deliver the opening keynote address on Conference Day 1.
In 2015, Viet Nam welcomed nearly 8 million international tourist arrivals and served 57 million domestic tourists. Total revenues reached 15.4 billion USD, contributing 6.6% to the GDP. Garnering particular mention is the development of the hotel sector which achieved significant results with the total number of accommodation reaching over 19,400 establishments, comprising 390,000 rooms.
As of May 2016, the country has 101 5-star hotels, 229 4-star hotels and 463 3-star hotels. Notably, in the period 2010-2015, the number of 3- to 5-star hotels rose faster than the overall average (+16% for 5-star hotels, 14% for 4-star hotels and 13 % for 3-star hotels). The development of the hotel sector has contributed to improving Vietnam's tourism image, towards one of modernity and high quality.
Grant Thornton (Vietnam) opened Conference Day 1 with the key findings from its hot-off-the-press Vietnam Hotel Survey 2016, sharing that there was an 11.3% decrease in average Room rates, while the average occupancy rose 1.2%. RevPAR decreased by 15.1% for the 4-star hotels on the one hand, whilst increasing 4.3% for the 5-star hotels on the other. STR also presented an optimistic outlook for development in Vietnam, anticipating growth in both RevPAR and supply.
The rest of Day 1 featured engaging presentations by the likes of VinaCapital and Christina’s, as well as focused panels on investment; branding & designing; HMA negotiation and owner-managed vs. the chains for hotel operation.
Conference Day 2 highlighted what’s new in Vietnam, going forward. The spotlight was cast on economy hotels; Vietnam’s burgeoning gaming sector; destinations; as well as up-and-coming golf courses and hospitality complexes in the country.
Recurring mentions throughout the course of the 2 days are 1) Phu Quoc as an emerging destination, outside of Ho Chi Minh City and Hanoi and 2) the pervasiveness of the millennial traveller and how the industry as a whole, is evolving alongside this generation of guests.
Organisations present at the event included Alcatel-Lucent, Asian Coast Development Ltd., Baker & McKenzie (Vietnam), BHMAsia & Louvre Hotels Group, DN Legal, dwp, Dynasty Investments, EXO Travel Vietnam, FLC, Gaw Capital, Global G5 Trading & Investment, Hilton Worldwide, Ho Tram Project Company, Hoi An Pearl JSC, Hoi An South Development Co., Horwath HTL, IMG Golf Course Management, IHG, Jones Lang LaSalle, Laguna Lang Co, Neptune Invest, Plateno Group, QUO, SC Capital, Stellar Management Corp, TBS Group, Tung Shing Group, Vinpearl Hotel Management, Wyndham Hotel Group, YWS Design and many more.
As you look through this post event report, we urge you to use this as a measure of our effectiveness in helping you reach your target audience in this regional sector. Referring to the attendee analysis, media coverage and pictures of the event, we hope you will be convinced that we are your ideal partner in your continual expansion into Vietnam in the 2017 edition of HICV. We would like to thank our sponsors and partners for your support in making this event a success and look forward to being the mainstay event in the Vietnamese hospitality landscape.
Thank you, and see you next year!