VIETNAM HOTELS Ho Chi Minh City Pipeline of 3,506 Rooms
Talking to Mark Townsend of CBRE Vietnam is always entertaining and enlightening. In his own words "Asia is no long emerging, it has arrived." Mark has just updated us on the HCMC (aka Saigon pipeline) which has 12 new international standard hotels being developed with 3,506 rooms over the next four years.
Interesting two new limited service IBIS hotels are coming up in the emerging budget + economy tier in District 1 and 7. Local developers continue to move to a more dominant position as there are increasingly a number of Vietnamese looking to develop brands taking up a trend we have seen here in Thailand.
An influx of smaller non star rated hotels though do pose a danger of oversupply and an emerging trend to properties being located in business parks and mixed use developments.