Hanoi hotels deserted despite full tourism reopening
Hotels in Hanoi have resumed operations with big discounts, but performance is far from "normal" amid a meagre number of guests.
Many hotels in the capital are reducing room rates by 40-75%, according to Le Mai Khanh, Vice Chairman of Vietnam Hotel Association.
Notably, La Sinfonia del Rey Hotel & Spa and Acoustic Hanoi & Spa Hotel respectively offered up to 72% and 83% off, while Annatole Hotel Hanoi and InterContinental Hotel West Lake cut their rates by 42% and 48%.
Several 4-5-star hotels reduced prices from $410 to $70 per night, while Hanoi Lullaby Hotel lowered its rate from $271 to $87.
A manager of Golden Silk Hotel at 109-111 Hang Gai street, said his hotel has faced many challenges in the last two years due to a significant decline in guests. To adapt to the pandemic scenario, the facility is lowering room rates, laying off employees, and cutting unnecessary costs.
"Incoming guests need to contact us via our hotline. The manager will then open the door and arrange appropriate rooms. This is a necessary and effective process to maintain the hotel’s operation in the current complex pandemic situation," he said.
Nguyen Thanh Huyen, a receptionist at Spring Flower Hotel, 45 Hang Bo Street, said while the hotel continues to offer numerous incentives to lure clients, most international tourists have not returned in large numbers.
"As a result, our hotel is compelled to reopen discreetly, with as few employees as possible. It cannot afford to run at full capacity when revenues are so low."
The tourism industry is still in recovery mode; therefore, it will take time to return to pre-crisis levels. "They need to reinvest to resume business, which is difficult given current low tourist numbers," Huyen added.
Hanoi House Hotel at 85 Ma May Street in Hoan Kiem district is dealing with waterproofing and mold in all its 17 rooms, and is not expected to reopen until the end of March.
Tran Trung Hieu, Deputy Director of the Hanoi Tourism Department, said the city would conduct various tourism activities and events to warm up the market and draw travelers to the capital. These include tourism conferences and promotions on television, cable news networks, and in newspapers. "These activities are expected to create favorable conditions for Hanoi hotels to reopen faster."
Hanoi has 3,722 tourist accommodation establishments with 69,954 rooms, official data shows. Of this, 589 are hotels, offering 24,371 rooms and accounting for 15.8%.
In the luxury hotel segment, only one new 5-star hotel, Capella Hanoi, made its debut last year, with 47 rooms in the downtown area.
- Read More
Sumitomo subsidiary acquires 49% stake in Vietnam’s top crop protection firm
Summit Agro International Ltd., a member of Japanese conglomerate Sumitomo, has acquired a 49% stake in Hop Tri Investment Corporation, a leading crop protection firm in Vietnam.
Companies - Fri, November 22, 2024 | 8:25 pm GMT+7
E-wallets get thin as banking apps prosper in Vietnam
E-wallets appear unable to compete strongly against online banking applications in Vietnam, several market observers say.
Banking - Fri, November 22, 2024 | 7:15 pm GMT+7
Use social media influencers in targeted manner for e-commerce success: Vietnam execs
Vietnamese companies should use new generation influencers in a targeted manner, prioritizing specific market segments, standardizing quality and focusing on strong product categories to achieve e-commerce success, says Nguyen Ngoc Luan, CEO of Meet More Coffee.
Companies - Fri, November 22, 2024 | 4:26 pm GMT+7
VinFast’s parent, PV Power partner to speed up charging station expansion
Vietnamese private conglomerate Vingroup, the parent firm of electric vehicle manufacturer VinFast, and state-controlled PV Power have entered an agreement to develop charging stations across the country and promote rooftop solar installations.
Companies - Fri, November 22, 2024 | 4:11 pm GMT+7
Petrovietnam, Petronas to boost renewable energy cooperation
Petrovietnam and Petronas, two state-owned oil & gas giants of Vietnam and Malaysia, will further cooperate in renewable energy, including exchange of information, knowledge, and experiences.
Energy - Fri, November 22, 2024 | 2:59 pm GMT+7
FTSE Vietnam ETF may heavily buy Vinhomes, sell Vingroup in upcoming reshuffle: broker
FTSE Vietnam ETF is forecast to strongly buy in several Vietnamese heavyweights such as Vinhomes, Hoa Phat, and Vietcombank in its upcoming portfolio reshuffle.
Finance - Fri, November 22, 2024 | 2:45 pm GMT+7
$681 mln central Vietnam urban area project eyed by Sun Group gets authorities' nod
A VND17.3 trillion ($681 million) urban area project that is drawing the interest of major realty developer Sun Group has received an in-principle approval from Khanh Hoa province's administration.
Real Estate - Fri, November 22, 2024 | 1:53 pm GMT+7
Vietnam foreign ministry dismisses allegations of tightening visa rules for foreigners
Allegations of Vietnam tightening visa policies and control over foreigners are "baseless", Foreign Ministry spokeswoman Pham Thu Hang said Thursday.
Politics - Fri, November 22, 2024 | 11:29 am GMT+7
Thailand-invested food giant CP fined $31,000 for environmental violations
Vietnam’s southern province of Dong Nai has issued a fine of VND790 million ($31,080) to Thailand-invested C.P. Vietnam Corporation for violating environmental regulations.
Companies - Fri, November 22, 2024 | 10:48 am GMT+7
Vietnamese billionaire’s daughter spends $25 mln on Masan share purchases
Nguyen Yen Linh, the daughter of chairman Nguyen Dang Quang of consumer goods giant Masan Group (HoSE: MSN), has purchased nearly 8.5 million MSN shares over the past three weeks, meeting 85% of her target.
Finance - Fri, November 22, 2024 | 10:27 am GMT+7
PYN Elite manager upbeat about Vietnam’s economy, stock market despite Trump uncertainty
The Vietnamese economy will still fare well, and the local stock market will remain appealing despite the recent pullback following Donald Trump’s election win for a second term, said Petri Deryng, portfolio manager of Finland-based the PYN Elite fund.
Finance - Fri, November 22, 2024 | 8:25 am GMT+7
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031
The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.
Energy - Thu, November 21, 2024 | 10:41 pm GMT+7
Indonesia, France step up cooperation in economy, defence
Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.
Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7
Thai economy to maintain upward momentum in 2025
The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.
Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7
Former parliament chairman Vuong Dinh Hue warned for violations
The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.
Politics - Thu, November 21, 2024 | 10:10 pm GMT+7
Sumitomo insists on building LNG power plant in central Vietnam
Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.
Energy - Thu, November 21, 2024 | 8:53 pm GMT+7
- Opinion
-
Vietnam embraces new wave of investments: HSBC exec
-
Vietnam's economy: positive changes but concerns persist
-
Chinese e-commerce giant Temu's Vietnam entry: unfair competition or market economy norm?
-
Slow administrative procedures hinder Korean investments in Vietnam: KoCham chair
-
Abundant real estate opportunities surround HCMC
-
Vietnam needs to modify FDI incentives to stay competitive amid global minimum tax application: expert