In our last two blog entries on top hotel industry trends (part 1, part 2), we outlined a number of factors that are shaping how the hospitality sector operates. Hoteliers in Vietnam are advised to “be alert to new opportunities during tough economic times by changing their business strategies and researching the market” ^(*) . We believe four areas should be tackled to tremendously improve the Vietnamese hotel sector’s performance.

In our previous blog article, we discussed some notable hotel industry trends regarding economic/financial factors and technology. Now, what is happening in terms of customers and hotel management techniques?

According to Vietnam National Administration of Tourism (VNAT), the total number of international tourists in 2012 reached 6,847,678, representing a 13.86% growth year on year. This year, the Vietnamese tourism industry “planned to welcome 7.2 million international visitors and 35 million domestic passengers, and is targeting a total revenue of VND190 trillion (equivalent to US$9.5 billion).” Not too long ago, we discussed some competitive criteria necessary for hospitality businesses to stay ahead in the game. Now we will zoom in on the hotel industry and take a closer look at trends in Vietnam and around the world.

Hospitality businesses in Vietnam to serve over 6 million tourists

Statistics from Vietnam National Administration of Tourism (VNAT) have revealed a 14% annual growth in international visitors to the country. In November alone, around 656,000 tourists visited Vietnam, bringing the total amount of international arrivals in the first 11 months of 2012 to 6,035,901^(*). The question now is, are hospitality businesses up for the game?