Tuesday, April 25, 2017 9:41:27 AM - Markets open
VN-INDEX 708.97 -0.42/-0.06%
HNX-INDEX 87.97 -0.44/-0.50%
UPCOM-INDEX 57.54 0.00/0.00%
HN five-star hotel occupancy up to 74%
Source: VNS - 4/19/2017 9:11:48 AM
 (0 ratings. You must sign in to rate.)
Average occupancy of five-star hotels was up four percentage points quarter-on-quarter (QoQ) and 10 percentage points year-on-year (YoY) to 74 per cent.

This was stated in Savills Viet Nam Co Ltd’s quarterly report on Ha Noi’s property market.

The hotel segment performed well in terms of occupancy and price in the first quarter this year, the company said.

Average room rate, the average price of each room sold per day, was up 21 per cent QoQ and 41 per cent YoY due to an increase across all segments.

Revenue per available room was up 28 per cent QoQ and 64 per cent YoY.

Nguoi Dong Hanh online newspaper quoted Do Thu Hang of Savills Ha Noi as saying that the good performance of the five-star hotel segment in the first quarter was partly due to strong growth in the number of foreign visitors to Viet Nam, including to Ha Noi, which received 1.3 million visitors in the first quarter. Meanwhile, supply of five-star hotels in this quarter remained unchanged.

“40 per cent of foreign visitors to Viet Nam would stay in Ha Noi, leading to higher demand for five-star hotels while supply of this hotel segment was unchanged. So, existing five-star hotels in Ha Noi had to operate under full capacity, pushing the average room rate up,” Hang said

According to the Ha Noi Statistics Office, in the first quarter, there were some 1.3 million international visitors to Ha Noi, a YoY increase of 10 per cent.

In 2017, more than 900 rooms will be introduced, Savills Ha Noi said.

The company also commented on the office for lease market, saying grade A offices in central business districts (CBD) continued to perform well in the first quarter.

Total office space was 1,640,000sq.m, increasing 0.3 per cent QoQ and 1.9 per cent YoY.

One Grade A project entered the market, supplying some 5,200sq.m of office space.

Average rents decreased 0.2 per cent QoQ but increased 1.2 per cent YoY. Average occupancy was up slightly. Grade A projects in non-CBD witnessed weaker performance compared with their CBD counterparts.

In 2017, five new mostly Grade B projects will supply some 158,400sq.m. Future supply will remain concentrated in the west and secondary areas.
Newer News
09:13 Association sees busier property market in Q2
Older News
13/04 Foreign cap to be focused at annual shareholder meetings
23/03 Mapletree openes its first office development in Vietnam
20/03 Price up for high-end property
07/03 Real estate transactions stall in February
01/03 City aims for high-quality low-cost housing
27/02 Property stockpile 77% below peak
15/02 Vietnam’s building code in a "messy" situation
13/02 Ha Noi office and retailHa Noi office and retail competition heating up
13/02 HCM City aims for sustainable realty market
09/02 HN to collect VNĐ10 trillion from auctioning land
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 9:41:37 AM
VN-INDEX 708.97 -0.42/-0.06%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.