Press release
Vietnam Hospitality Market 2025 - Top Regions, Latest Technology, Investment Opportunities, Future Trends and Outlook 2033
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Study Assumption Years
Base Year: 2024
Historical Years: 2019-2024
Forecast Period: 2025-2033
Vietnam Hospitality Market Key Takeaways
The market size was valued at USD 7.0 Billion in 2024.
The market is forecasted to grow at a CAGR of 12.20% from 2025 to 2033.
The market is expected to reach USD 20.7 Billion by 2033.
Significant improvements in tourism infrastructure and urban development, including airports and highways, support market growth.
Vietnam received over 17.5 million international visitors in 2024, a 39.5% increase over the previous year.
The rise of international hotel brands and diverse formats, including boutique and eco-resorts, enhances sector dynamics.
Growth in midscale and budget accommodations supports inclusivity and caters to price-sensitive travelers.
Government initiatives to simplify visa processes and promote e-visas boost international tourist arrivals.
Market Growth Factors
Tourism infrastructure and urban development investments helped Vietnam's hospitality industry. Airport upgrades, highway expansions, and better public transport systems exist in Da Nang, Ha Long Bay, and Ho Chi Minh City. Local governments also host resorts and entertain within new hospitality zones. Visa processes eased along with longer-term e-visas promoted to encourage more foreign tourists and sustain a steady demand for hospitality services.
The international tourism market grows and 17.5 million foreign tourists are expected by 2024 which is a 39.5% increase from 2023. More international airports are being created, and foreign hotel chains are investing in and partnering with local property developers in the country. International hotel brands from boutique to luxury eco-resorts have entered the market, appealing to various visitors, and raising average occupancy throughout the year.
The trends of digital transformation and sustainability are changing the hospitality landscape in Vietnam, with hotels increasingly using contactless check-in and check-outs, digital concierge, and smart room technologies. As part of meeting eco-friendly standards, 163 green buildings were registered in 2024 and resorts also adopted green building codes. Midscale and economy sectors are benefitting from domestic and price-sensitive international tourists, as the market broadens with higher occupancy rates.
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Market Segmentation
By Type:
Chain Hotels: Dominates with approximately 58.3% share in 2024, driven by brand recognition, standardized service, global distribution, and partnerships with local developers.
Independent Hotels: Not specifically quantified but represents a significant segment within the market.
By Segment:
Service Apartments: Not provided in source.
Budget and Economy Hotels: Focus on functionality, cleanliness, and accessibility to meet demand from price-sensitive travelers and domestic tourists.
Mid and Upper Mid Scale Hotels: Leads the market with around 44.7% share in 2024, offering a balance of affordability and quality, appealing to middle-income tourists and business travelers.
Luxury Hotels: Cater to high-end travelers, integrating cultural and modern design elements.
Regional Insights
Southern Vietnam holds the largest market share of over 47.8% in 2024. This dominance is due to major economic hubs like Ho Chi Minh City, popular coastal destinations such as Vung Tau and Phu Quoc, and well-established tourism infrastructure. The region benefits from strong air, road, and sea connectivity and continuous investment in hospitality projects, attracting both leisure and business travelers.
Recent Developments & News
March 2025: Accor opened Pullman Hai Phong Grand Hotel in Northern Vietnam, offering 364 rooms and extensive meeting spaces, boosting Accor's premium presence.
January 2025: Park Hyatt Phu Quoc scheduled to open in Q3 2025, blending traditional Vietnamese architecture with modern artistry.
November 2024: Frasers Hospitality launched Modena by Fraser Vinh Yen with 88 serviced apartments, marking its third Vietnam property.
October 2024: Baker McKenzie Vietnam and BMVN advised Hung Yen Hospitality on luxury hospitality development including hotels and golf courses.
May 2024: IHG Hotels & Resorts debuted Hotel Indigo in Ho Chi Minh City and Vignette Collection in Hoi An, planning to double portfolio to 44 hotels by 2028.
April 2024: Kempinski Hotels announced Vietnam debut with 100-room Kempinski Saigon River resort, opening in 2026 in Dong Nai.
Key Players
Vinpearl.com
Muong Thanh Hospitality
Accor
InterContinental Hotels Group
Marriott International, Inc.
Diamond Bay Resort & Spa
A25 Hotel
H&K Hospitality
The Ascott Limited
Customization Note
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
Contact Us
IMARC Group,
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Email: sales@imarcgroup.com,
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About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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