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Vietnam Hospitality Market, By Hotel Type (Chain Hotels, Independent Hotels, Luxury Resorts, Boutique Hotels); By Accommodation Category (Budget & Economy Hotels, Mid-Scale Hotels, Business Hotels, Leisure Hotels); By Alternative Lodging (Service Apartmen

Publisher BlueWeave Consulting
Published May 05, 2025
Length 138 Pages
SKU # BLWC20227780

Description

Vietnam Hospitality Market Size More Than Doubles to Touch USD 14 Billion by 2031
Vietnam Hospitality Market is booming, primarily due to the growing tourism sector driven by rising disposable income, foreign direct investments, rapid urbanization, improved infrastructure, and an expanding middle class.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Hospitality Market size by value at USD 6.13 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Vietnam Hospitality Market size to boom at a robust CAGR of 12.5% reaching a value of USD 13.97 billion by 2031. The Hospitality Market in Vietnam is driven by the booming tourism sector, with strong government support for infrastructure development and promotional campaigns. Rising disposable incomes and a growing middle-class fuel domestic travel and demand for quality accommodations. Additionally, increased foreign investment and international hotel chains entering the market enhance competitiveness and service standards. Events such as international conferences and sporting events also attract business travelers. Vietnam’s rich cultural heritage, natural beauty, and street food culture further bolster its appeal. Finally, digital transformation, including the rise of online booking platforms and smart hospitality technologies, supports growth and operational efficiency in the market.
Opportunity – Growth in Luxury and Eco-Resort Segments
Vietnam Hospitality Market is witnessing a surge in luxury and eco-resort developments, driven by a rising demand for premium travel experiences. International hotel chains are expanding their portfolios, while boutique resorts cater to personalized stays. Sustainability-focused accommodations attract eco-conscious travelers, integrating green technologies and responsible tourism practices. Government incentives and foreign direct investments further accelerate market growth, positioning Vietnam as a top destination for upscale and environmentally friendly hospitality offerings.

Service Apartments Segment Leads Vietnam Hospitality Market
The service apartments segment accounts for the largest market share in Vietnam Hospitality Market. The segment’s market dominance is driven by a rising demand from long-term business travelers, expatriates, and digital nomads seeking affordable, flexible, and home-like accommodations with modern amenities. The rapid development of urban centers like Ho Chi Minh City and Hanoi has further fueled investments in service apartments, particularly in central business districts. Additionally, the appeal of privacy, convenience, and tailored services makes them a preferred choice over traditional hotels or hostels for both corporate and extended-stay leisure travelers in Vietnam.

Impact of Escalating Geopolitical Tensions on Vietnam Hospitality Market

Escalating geopolitical tensions could significantly impact the growth of Vietnam Hospitality Market by reducing international tourist arrivals due to travel advisories and heightened safety concerns. Supply chain disruptions, particularly for imported food and luxury goods, may strain hotel operations and increase operational costs. Foreign investments in tourism infrastructure could slow amid uncertainty, affecting long-term development. Additionally, fluctuating fuel prices and currency instability may deter budget-conscious travelers. However, domestic tourism may partially offset the decline in international visitors, offering some resilience. Overall, geopolitical instability introduces volatility, requiring agile strategies from hospitality stakeholders to maintain growth and service quality.

Competitive Landscape

Vietnam Hospitality Market is highly fragmented, with numerous players serving the market. Major companies dominating the market are AccorHotels, Marriott International, InterContinental Hotels Group (IHG), Hilton Hotels & Resorts, Vinpearl Hotels & Resorts, Fusion Hotel Group, Wyndham Hotels & Resorts, Best Western Hotels & Resorts, Minor Hotels, Melia Hotels International, and Radisson Hotel Group. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Vietnam Hospitality Market.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Vietnam Hospitality Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Hospitality Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

138 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Vietnam Hospitality Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Expanding International Air Connectivity
3.2.1.2. Rising Domestic Travel Demand
3.2.1.3. Increased Foreign Investment in Hotel Chains
3.2.2. Restraints
3.2.2.1. Skilled Labor Shortages
3.2.2.2. Regulatory Challenges for Investors
3.2.2.3. Infrastructure Development Constraints
3.2.3. Opportunities
3.2.3.1. Growth in Luxury and Eco-Resort Segments
3.2.3.2. Government Support through Visa Reforms
3.2.4. Challenges
3.2.4.1. Competitive Market Saturation
3.2.4.2. Economic Uncertainty Impacting Travel Spending
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Vietnam Hospitality Market Strategies
5. Vietnam Hospitality Market: Pricing Analysis
6. Vietnam Hospitality Market Overview
6.1. Market Size & Forecast, 2019–2031
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Hotel Type
6.2.1.1. Chain Hotels
6.2.1.2. Independent Hotels
6.2.1.3. Luxury Resorts
6.2.1.4. Boutique Hotels
6.2.2. By Accommodation Category
6.2.2.1. Budget & Economy Hotels
6.2.2.2. Mid-Scale Hotels
6.2.2.3. Business Hotels
6.2.2.4. Leisure Hotels
6.2.3. By Alternative Lodging
6.2.3.1. Service Apartments
6.2.3.2. Hostels
6.2.3.3. Eco-Resorts
6.2.3.4. Vacation Rentals
7. Competitive Landscape
7.1. List of Key Players and Their Offerings
7.2. Vietnam Hospitality Market Share Analysis, 2024
7.3. Competitive Benchmarking, By Operating Parameters
7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Vietnam Hospitality Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
9.1. AccorHotels
9.2. Marriott International
9.3. InterContinental Hotels Group (IHG)
9.4. Hilton Hotels & Resorts
9.5. Vinpearl Hotels & Resorts
9.6. Fusion Hotel Group
9.7. Wyndham Hotels & Resorts
9.8. Best Western Hotels & Resorts
9.9. Minor Hotels
9.10. Melia Hotels International
9.11. Radisson Hotel Group
10. Key Strategic Recommendations
11. Research Methodology
11.1. Qualitative Research
11.1.1. Primary & Secondary Research
11.2. Quantitative Research
11.3. Market Breakdown & Data Triangulation
11.3.1. Secondary Research
11.3.2. Primary Research
11.4. Breakdown of Primary Research Respondents, By Region
11.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Vietnam Hospitality Market Segmentation
Figure 2 Vietnam Hospitality Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2024
Figure 4 Vietnam Hospitality Market Size, By Value (USD Million), 2019–2031
Figure 5 Vietnam Hospitality Market Share, By Hotel Type, By Value, 2019–2031
Figure 6 Vietnam Hospitality Market Share, By Accommodation Category, By Value, 2019–2031
Figure 7 Vietnam Hospitality Market Share, By Alternative Lodging, By Value, 2019–2031
List of Tables
Table 1 Vietnam Hospitality Market Size, By Value (USD Million), 2019–2031
Table 2 Vietnam Hospitality Market Size, By Hotel Type, By Value, 2019–2031
Table 3 Vietnam Hospitality Market Size, By Accommodation Category, By Value, 2019–2031
Table 4 Vietnam Hospitality Market Size, Alternative Lodging, By Value, 2019–2031
Table 5   AccorHotels Company Overview
Table 6   AccorHotels Financial Overview
Table 7   Marriott International Company Overview
Table 8   Marriott International Financial Overview
Table 9   InterContinental Hotels Group (IHG) Company Overview
Table 10   InterContinental Hotels Group (IHG) Financial Overview
Table 11   Hilton Hotels & Resorts Company Overview
Table 12   Hilton Hotels & Resorts Financial Overview
Table 13   Vinpearl Hotels & Resorts Company Overview
Table 14   Vinpearl Hotels & Resorts Financial Overview
Table 15   Fusion Hotel Group Company Overview
Table 16   Fusion Hotel Group Financial Overview
Table 17   Wyndham Hotels & Resorts Company Overview
Table 18   Wyndham Hotels & Resorts Financial Overview
Table 19   Best Western Hotels & Resorts Company Overview
Table 20   Best Western Hotels & Resorts Financial Overview
Table 21   Minor Hotels Company Overview
Table 22   Minor Hotels Financial Overview
Table 23   Melia Hotels International Company Overview
Table 24   Melia Hotels International Financial Overview
Table 25   Radisson Hotel Group Company Overview
Table 26   Radisson Hotel Group Financial Overview

Pricing

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