Cygnett Hotels & Resorts

Vietnam New Brief reported that the supply of four and five-star hotels inVietnam rose 6.2% year over year in the first half of 2023. They cited a report by Outbox Company saying that at the end of June, Vietnam had 235 five-star hotels with 77,895 rooms and 354 four-star hotels with 47,502 rooms. Compared to 2019, that was […]

Dow Jones carried a story on Vietnam hotels, another one discussing the less-than-stellar situations that are causing an avalanche of properties to be listed for sale. The article started with a commentary on a wave of HCM City hotels being put up for sale at deep discounts amid the ongoing recession and sluggish tourism market. The article described […]

More reports are coming out of Vietnam about hotels closing or being put up for sale. The latest article said a Google search “for sale hotels in Ho Chi Minh City” brought up hundreds of results. The Ho Chi Minh City Department of Tourism said in District 1 there are 308 tourist establishments and about 20 have closed, […]

STR reported Sydney’s hotel industry recorded its highest performance levels of the pandemic-era. The preliminary November 2022 data shows occupancy averaging 79.8% for the month, ADR at A$273.07 resulting in RevPAR of A$217.79.  STR said the market’s ADR level was the highest for any month on record except for September 2000 when it hosted the Sydney […]

The Business Times of Singapore commented on the Fitch Solutions report saying Vietnam’s tourism sector is forecast to record US$11.1 billion in revenue in 2024, which would exceed the 2019 tourism revenue number of US$10.8 billion. They expect strong growth to continue with US$13.2 billion generated by tourism in 2026 with more than 22 million arrivals in the country. As we […]