Latest News- Hotel Market in Vietnam: Tourist accommodation is expected to lead the Application segment during 2025-2029

The Hotel Market in Vietnam is being driven by Growing affordability and rising disposable income

The Hotel Market in Vietnam is expected to grow at a CAGR of 21.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5331.3 million. The hotel market in Vietnam is leveraging the power of social media to expand their reach and engage with diverse traveler segments. With advanced technology, hotels can promote their facilities and services across various platforms, attracting both leisure and corporate travelers, influencers, and youth demographics. Social media has emerged as a primary information source for travelers in Vietnam, with over 55 million Facebook users and a significant number of searches originating from social media sites before travel purchases are made. 

Get more information on Hotel Market in Vietnam by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Tourist accommodation
  • Official business
• Type
  • Chain hotels
  • Independent hotels
• Service
  • Service apartments
  • Mid and upper mid-scale hotels
  • Budget and economy hotels
  • Luxury hotels
• Geography
  • Vietnam

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing affordability and rising disposable income
• Growing investment in hotel market in Vietnam
• Growing number of foreign tourists

However, the market also witnesses some limitations, which are as follows:

• Climate change and unexpected weather developments
• Availability of substitutes like homestays and resorts
• Privacy and security concerns

Benefits of Buying Global Hotel Market in Vietnam Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Hotel Market in Vietnam Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

In the dynamic Vietnamese hotel market, hospitality technology plays a pivotal role in enhancing the guest journey. Revenue optimization, brand loyalty, and guest personalization are key priorities, achieved through CRM systems, digital transformation, cloud computing, data analytics, and big data. Mobile check-in, keyless entry, virtual concierge, and voice assistants offer contactless services. Online reputation management, review monitoring, social media marketing, and content marketing boost brand awareness. SEO, paid advertising, and email marketing drive direct bookings. Service quality, employee engagement, operational excellence, cost control, guest safety, security measures, disaster preparedness, energy efficiency, environmental sustainability, and corporate social responsibility ensure long-term success.

Market Research Overview

In the dynamic and expansive hospitality sector, the parent market encompasses corporations involved in the operation of hotels, resorts, and cruise lines, encompassing travel agencies, tour operators, and ancillary services. According to Technavio, the global market size for this industry is determined by the consolidated revenue generated by entities in the gaming and casinos, hotels, resorts and cruise lines, leisure facilities, and restaurants sectors. Key growth drivers include the burgeoning travel and tourism industry, with annual increases in international and domestic travelers from both emerging and developed economies. Integral to this market's success are the implementation of advanced hotel management systems, property management systems, revenue management, guest relationship management, channel management, and distribution channels.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/