Short-term rental is a rising trend among local young people in Vietnam due to low cost. Moreover, an increasing percentage of foreign tourists are choosing to stay in short-term rentals rather than hotels – not necessarily because they seek more affordable prices, but because they appreciate the opportunity to have contact with local hosts and friends and enjoy more authentic exposure to local culture.
While luxury and upscale hotels continued to account for the highest value share in 2019, its growth was outpaced by all other types of hotels, especially budget hotels and unrated hotels. However, the number of travellers attracted to Vietnam has continued to surge, and those with means continue to seek lodging at luxury hotels that offer more amenities and higher standards of service.
The internet transaction value of intermediaries lodging sales overall continued to rise strongly in 2019, and intermediaries leisure lodging online sales saw higher double-digit growth over the previous year, for two main reasons. First, the country has seen strong development of both the internet and social media networks, which has increased the number of internet users in the country.
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Discover the latest market trends and uncover sources of future market growth for the Lodging industry in Vietnam with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Travel And Tourism market research database.