Most are investing in the upscale and luxury segments
As the number of international visitors to Hanoi has been increasing rapidly and reached 4 million in 2016, major players in the global hospitality industry are becoming more interested in doing business in the second largest city of Vietnam, Vian Industry News reported citing data from JLL.
According to the report published by JLL, international hotel operators such as Accor, Hilton and Mariott already have their hotels opened in Hanoi, and they are planning to add around 3,000 more rooms to hotels in the city. Most of the international brands operate hotels in the upscale and luxury segments with little local competitors as the majority of domestically operated hotels are catered to the middle and budget segments, JLL noted.
JLL said Samsung’s investment in Vietnam is the main driver behind the growing corporate demand for hotel rooms as the company has its main smartphone production facilities in provinces near Hanoi.
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