PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1779688
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1779688
Vietnam Hospitality Market, By Hotel Type; By Accommodation Category; By Alternative Lodging, Trend Analysis, Competitive Landscape & Forecast, 2019-2031
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
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
- 3.2.1. Growth Drivers
- 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
- 6.2.1. By Hotel Type
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
