Vietnam’s hotel market benefited from a strong recovery in tourism during 2024. The country recorded more than 17.5 million international visitor arrivals, while hotel occupancy, room rates, and destination performance varied considerably by city, season, and market segment. The figures below bring together national tourism results and hotel-market measurements for Hanoi, Ho Chi Minh City, and selected central and coastal destinations.
Contents
- Vietnam tourism demand in 2024
- Where international visitors came from
- Holiday occupancy across major destinations
- Hanoi hotel supply and occupancy
- Hanoi room rates and hotel performance
- Ho Chi Minh City hotel market
- What the figures show for Central Vietnam
Vietnam tourism demand in 2024
Vietnam recorded more than 17.5 million international visitor arrivals in 2024, an increase of 39.5% from 2023. This national total, reported by the Vietnam National Authority of Tourism, provides the broad demand context for accommodation businesses across the country.
Air travel was the dominant arrival channel. International arrivals by air reached 14.8 million, equal to 84.4% of the total. Land arrivals were nearly 2.5 million, representing 14.2%, while arrivals by sea were about 248,100, or 1.4%.
The country also recorded substantial domestic and short-break demand during major travel periods. Vietnam’s tourism industry served 8 million visitor arrivals during the five-day holiday from 27 April to 1 May 2024. The figure was 14.2% higher than during the same period in 2023. About 3.6 million of those visitors were overnight visitors, an important distinction for hotels because total visitor counts include both day trips and stays.
Across tourist accommodation establishments, nationwide room occupancy averaged about 60% during that five-day holiday. Peak-day occupancy exceeded 70%, and some coastal destinations reached between 95% and 100%. These holiday measurements show how national averages can conceal much stronger results in destinations with concentrated seasonal demand.
Where international visitors came from
Asia remained the primary source region for Vietnam’s international tourism market in 2024. Asian source markets accounted for 79.6% of international arrivals. European markets contributed 11.3%, while American markets represented 5.7%.
African source markets accounted for 0.3% of arrivals. The distribution matters for hotel operators because it indicates that Vietnam’s international demand was heavily weighted toward nearby Asian markets, with smaller but meaningful contributions from Europe and the Americas.
The arrival mix also helps explain the importance of accessible air connections. With 84.4% of international visitors arriving by air, hotel demand is closely connected to airport gateways and the destinations that can be reached efficiently from them. Land and sea arrivals still represented distinct channels, but together they accounted for 15.6% of the international total.
Holiday occupancy across major destinations
The Vietnam National Authority of Tourism reported strong Lunar New Year 2024 results in several destinations. The measurements below cover the holiday period and should not be treated as full-year averages.
| Destination and period | Visitors | Occupancy or room capacity | Tourism or accommodation revenue |
|---|---|---|---|
| Da Nang, Tet 2024 | 402,000 | Not reported | Estimated VND 1,580 billion |
| Kien Giang, Lunar New Year 2024 | 270,230 | 66.3% | VND 928 billion |
| Thua Thien Hue, 9-day Lunar New Year 2024 | About 100,000 | Estimated 62.4% | Estimated VND 115 billion accommodation revenue |
| Khanh Hoa, Lunar New Year 2024 | 206,000 | About 79.7% room capacity | More than VND 959.1 billion |
Da Nang welcomed 402,000 visitors during the 2024 Tet holiday, 37% more than during the same period in 2023. Its tourism industry earned an estimated VND 1,580 billion. These are holiday-period results rather than an annual hotel-market estimate.
Kien Giang served 270,230 visitor arrivals during Lunar New Year 2024, an increase of 26.4% year on year. Tourist receipts reached VND 928 billion, and room occupancy reached 66.3%.
Thua Thien Hue drew about 100,000 visitors over the nine-day Lunar New Year 2024 period. The visitor count was up about 17.64% from 2023. Accommodation occupancy was estimated at 62.4%, while accommodation revenue was estimated at VND 115 billion.
Khanh Hoa welcomed 206,000 visitors during Lunar New Year 2024 and recorded more than VND 959.1 billion in tourism revenue. Its accommodation room capacity reached about 79.7%. Some central Nha Trang hotels and four- and five-star seaside resorts exceeded 90% occupancy from the second to the fifth day of Tet, according to the Vietnam National Authority of Tourism citing the Khanh Hoa Department of Tourism.
Hanoi hotel supply and occupancy
Hanoi provides one of the clearest quarterly views of Vietnam’s hotel industry. Savills Vietnam reported 11,120 hotel rooms across 67 projects in Q2 2024. Five-star supply increased 3% quarter on quarter, while four-star supply decreased 7% quarter on quarter.
Hanoi hotel occupancy reached 67% in Q2 2024. That was 2 percentage points higher than in Q1 and 3 percentage points higher than in Q2 2023. In Q3, occupancy remained at 67%, unchanged from Q2 and 6 percentage points above Q3 2023.
Supply was stable in Q3 2024: Hanoi again had 11,120 rooms across 67 projects, and no new hotel projects were recorded during the quarter. About 5,500 rooms were concentrated in the inner city. Five-star hotels made up 59% of total hotel supply, with five-star supply up 8% year on year. Four-star supply was down 7% year on year.
The 1H 2024 figures reported by VNDIRECT Research, citing Savills, also put Hanoi at 11,120 rooms, up 1.4% year on year. Hanoi’s average occupancy for the first half was 66%, 6 percentage points above 1H 2023 but 8 percentage points below the 1H 2019 average.
Hanoi’s broader visitor numbers were higher than its hotel occupancy alone might suggest. The city welcomed 25.3 million visitors in January-November 2024, 12% more than a year earlier. Its average hotel occupancy was estimated at 67% in November, which was 14% higher than in November 2023. The January-November visitor total and the November occupancy estimate cover different periods and should be read separately.
Hanoi room rates and hotel performance
Room-rate results in Hanoi were positive year on year, although quarter-to-quarter movement was uneven. In Q1 2024, Savills reported that average room rates rose 2% quarter on quarter and 11% year on year. Occupancy was 65%, 1 percentage point higher than in Q4 2023.
In Q2, the average room rate fell 7% quarter on quarter but still rose 11% year on year. The combination of a 67% occupancy rate and a lower quarterly rate indicates that occupancy gains did not produce a continuous quarter-to-quarter increase in pricing.
For 1H 2024, VNDIRECT Research, citing Savills, reported an average room rate of nearly VND 2.9 million per room per night. That was 10.5% higher than a year earlier. The half-year rate is a different measurement from the quarterly changes, but both point to stronger pricing than in the comparable 2023 period.
| Hanoi hotel indicator | Measurement |
|---|---|
| Q1 2024 occupancy | 65% |
| Q2 2024 occupancy | 67% |
| Q3 2024 occupancy | 67% |
| 1H 2024 average occupancy | 66% |
| 1H 2024 average room rate | Nearly VND 2.9 million per room per night |
| Q2 2024 hotel supply | 11,120 rooms across 67 projects |
Savills’ quarterly results also show a market with a large upscale component. By Q3, five-star hotels represented 59% of Hanoi’s hotel supply. The reported 8% year-on-year increase in five-star supply contrasted with a 7% year-on-year decline in four-star supply.
Ho Chi Minh City hotel market
Ho Chi Minh City had 16,542 hotel rooms in 1H 2024, according to VNDIRECT Research citing Savills. Supply was up 5.4% year on year and came from 116 projects. The city’s average occupancy rate was 63%, 1 percentage point higher than a year earlier.
The 1H 2024 occupancy rate was still 6 percentage points below the 1H 2019 level. Ho Chi Minh City’s average room rate was VND 1.9 million per room per night, up 4.5% year on year.
The difference between the two largest city markets is visible in the half-year figures:
| 1H 2024 indicator | Hanoi | Ho Chi Minh City |
|---|---|---|
| Hotel rooms | 11,120 | 16,542 |
| Projects | 67 | 116 |
| Average occupancy | 66% | 63% |
| Average room rate | Nearly VND 2.9 million | VND 1.9 million |
| Year-on-year room-supply change | 1.4% | 5.4% |
| Occupancy change from 1H 2019 | 8 percentage points lower | 6 percentage points lower |
Savills projected Ho Chi Minh City tourism revenue at VND 190 trillion for 2024. This is a projection for tourism revenue, not a reported hotel-room revenue total, so it should not be compared directly with the destination accommodation-revenue figures from Lunar New Year.
What the figures show for Central Vietnam
Central Vietnam’s 2024 holiday figures demonstrate the value of peak travel periods for the hotel industry. Da Nang’s 402,000 Tet visitors and 37% year-on-year increase show strong short-term demand. Thua Thien Hue’s estimated 62.4% occupancy and Khanh Hoa’s approximately 79.7% room capacity illustrate different performance levels during the same broad holiday season.
The most concentrated pressure appeared in selected coastal properties. Some central Nha Trang hotels and four- and five-star seaside resorts exceeded 90% occupancy during the second through fifth days of Tet. Nationwide, some coastal destinations reached 95% to 100% occupancy during the late-April and early-May holiday.
These results also underline why a single national occupancy figure can be misleading. Nationwide accommodation occupancy averaged about 60% during the five-day holiday, while peak-day occupancy exceeded 70% and selected coastal destinations approached full capacity. Destination, hotel category, and travel date all affected the outcome.
For readers tracking Central Vietnam travel, the clearest quantified signals are the strong growth in Da Nang’s Tet visitors, the 62.4% estimated occupancy reported for Thua Thien Hue, and the high holiday capacity levels reported in Khanh Hoa and coastal destinations. They describe specific 2024 periods and are not forecasts of normal occupancy for every month.