According to a survey by Savills Viet Nam, in the second quarter of 2025, Ho Chi Minh City’s tourism showed clear signs of recovery compared to the pre-pandemic period, mainly due to business travellers and MICE (Meetings, Incentives, Conferences, and Exhibitions). However, international visitors to the city has not reached 2019 levels, continuing to put pressure on the high-end hotel segment.
Hotel supply in Ho Chi Minh City in the second quarter of 2025 remained nearly unchanged at 16,622 rooms, with no new projects entering the market. The trend of upgrading and repositioning existing hotels to improve competitiveness and enhance customer experience is growing.
According to Savills, the second quarter is typically the low season for the tourism—the time before summer—with an average room occupancy rate of 61% and an average room price of 77 USD per night. Limited future room supply in the city—just over 200 new rooms by 2027—is expected to support performance as demand gradually recovers. In the second quarter of 2025, serviced apartment supply remained stable at 8,000 units, with no new additions. The occupancy rate reached 80%, indicating good performance, with an average rental price of about 20 USD per square metre per month.
The city also attracted 2.7 billion USD in FDI in the first half of 2025, which is expected to continue supporting the performance of the serviced apartment segment.
According to a survey by Savills Viet Nam, in Ha Noi, the hotel supply reached 10,986 rooms from 66 projects, down slightly by 1% quarter-on-quarter and year-on-year. In the second half of 2025, four new hotels are expected to provide an additional 1,138 rooms, including three five-star hotels and one four-star hotel. The average room occupancy rate reached 72%, with an average room rate of 108 USD per night.
Serviced apartment supply in the second quarter of 2025 remained stable at 6,246 apartments from 64 projects. The inner-city area accounts for the largest share—60%—and will continue supplying new units in 2025 through four new projects totaling 739 apartments. The occupancy rate remained stable at 86%, while rental price reached 24 USD per square metre per month.
Over the past six months, Ha Noi also attracted 3.7 billion USD of FDI, which is expected to boost demand for serviced apartments in the coming time.
