Binh Thuan Province now has around 8,000 hotel rooms, and with the current room growth exceeding that of tourist arrivals, the supply of hotel rooms will be overly abundant in the years to come, an industry source said. Nguyen Van Khoa, chairman of the Binh Thuan Tourism Association, said investors have continuously poured investments into the province’s hotel-resort segment over the past years,... 

Investors wanting to develop five-star hotels in Kien Giang Province must have a minimum investment of VND1.1 billion for each bed. According to new regulations of the province in a recent decision which aims to ensure the implementation of projects, if wanting to develop an ecological resort, enterprises have to spend at least VND10 billion on a hectare of land and water surface. Regarding hotel... 

The current number of tourist accommodation facilities nationwide is only enough to serve 42.2 million local and foreign tourists this year, but Vietnam is still in need of more three- to five-star hotels to cater to the growing number of visitors, a tourism official said. Vietnam currently has 13,500 tourist accommodation facilities with some 285,000 rooms, said Nguyen Van Tuan, head of the Vietnam... 

Today, Mercedes-Benz and Park Hyatt Saigon underlined their long-term cooperation that has been growing throughout the last five years by taking delivery of a new fleet of five flagship S-Class valued at more than VND21 billion ($1 million) for their VIP transport. At the handover ceremony, Michael Behrens, CEO of Mercedes-Benz Vietnam said: “Attention to detail is a hallmark of both Park Hyatt... 

Hoteliers from HCM City have raised concerns about the draft decree on casino management that the Finance Ministry submitted to the National Assembly Standing Committee on October 8. The draft decree states that only foreigners and overseas Vietnamese holding foreign passports are allowed to enter the casinos. Also, only five-star hotels would be allowed to open casinos, compared to current regulations,... 

Hotels are feeling uneasy about the draft decree on casino operations, saying they do not know how to handle the number of gaming machines exceeding the permitted volume. The draft decree on management of foreigner-only casinos was submitted to the National Assembly Standing Committee on Monday. The decree introduces some new regulations, such as only five-star hotels are allowed to open casinos.... 

VND327 billion for Rex Hotel upgradeHCMC – The Rex Hotel now is upgrading a section of its premises on Pasteur Street in downtown HCMC with total investment funds of up to VND327 billion and plans to put the area into operation in October this year. Tao Van Nghe, general manager of the hotel, said when in place, the newly-upgraded premises will provide 125 high-class rooms on high floors. The... 

International hotel operator Accor said on Tuesday the newly-built hotel Novotel Saigon Centre under its management in HCMC has opened its doors to guests. The opening of Novotel Saigon Centre on the corner of Nguyen Dinh Chieu and Hai Ba Trung streets marks a return of this upper mid-scale hotel brand to the southern economic hub of Vietnam a couple of years after Accor stopped management of a building... 

Hotel developers are experiencing the dark days in their business. The lower number of guests, low occupancy rate and decreasing revenues have all caused headaches for them. Hotel development, which was considered a lucrative business, has been in distress. All the business indexes are unsatisfactory in the low business season. Meanwhile, experts say they cannot see any signals of recovery in the... 

It now seems to not be the right time for luxurious hotels to join the market. Despite the big events in the first and second quarter of 2012, luxurious hotels remain quiet with the low indexes in the occupancy rate, hotel room rate and revenue. A lot of five star hotels have been put into operation recently, including the famous names like Intercontinental Hanoi Landmark on Pham Hung Road, Grand...