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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Vietnam Hospitality Market Share
Based on the type, the market is segmented into chain hotels and independent hotels. Chain hotels are projected to witness a growth of 14.2% during the forecast period of 2024-2032. Such hotels are part of a network of hotels managed by the same company or owner. The ownership structure can vary, with some being owned by a parent company while others operate under a franchise agreement. Unlike independent hotels, chain hotels prioritise consistent service quality over personalised experiences. They typically cater to a broad audience seeking reliability and predictability in their accommodations. Chain hotels leverage economies of scale, brand recognition, loyalty programmes, revenue management technology, and robust marketing strategies to their advantage.
Vietnam Hospitality Market Report Snapshots
Vietnam Hospitality Market Size
Vietnam Hospitality Market Growth
Vietnam Hospitality Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 6.19 billion.
The market is estimated to grow at a CAGR of 12.3% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 17.59 billion by 2032.
The market is being driven by rising disposable income, rapid urbanisation, and the country’s thriving tourism sector.
The key trends aiding the hospitality market in Vietnam include rising business tourism and the emergence of smart hotel concepts.
The major regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
The different segments based on types include chain hotels and independent hotels.
The major players in the market are Accor S.A., Vingroup JSC (Vinpearl), InterContinental Hotels Group PLC, Marriott International, Inc., Muong Thanh Hospitality, Diamond Bay Resort & Spa, A25 Hotel Group, H&K Hospitality, The Ascott Limited, and Hilton Worldwide Holdings Inc., among others.
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