| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| Market Size (2025) | USD 5.88 Billion |
| Market Size (2030) | USD 11.29 Billion |
| CAGR (2025 - 2030) | 13.94 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vietnam Hospitality Market Analysis
The Hospitality Industry In Vietnam Market size is estimated at USD 5.88 billion in 2025, and is expected to reach USD 11.29 billion by 2030, at a CAGR of 13.94% during the forecast period (2025-2030).
Many solutions have been actively implemented in Vietnam's tourism sector, resulting in positive results that contribute significantly to economic recovery from the pandemic. Vietnam National Administration of Tourism (VNAT) has promoted Vietnam tourism on digital platforms to target markets and joined important international travel fairs to affirm that Vietnam is a safe, attractive destination and fully ready to welcome tourists back after the COVID-19 pandemic.
Vietnam is famous for its beaches, rivers, Buddhist temples, and lively Southeast Asian cities. Vietnam is recognized for its long coastline, rice terraces, and antique French-colonial architecture within lively, modern cities. It is one of the world's fastest-growing tourism destinations. Hospitality and tourism have been critical components of economic growth in recent years as Vietnam has turned away from its reliance on agriculture and towards a service economy. Last year, the tourism industry in Vietnam concluded with a remarkable achievement. The country welcomed a staggering 12.6 million international visitors, nearly 3.5 times higher than the previous year's figure. Additionally, domestic tourism thrived, surpassing the plan by 6%.
Last year, while hosting the 31st SEA Games, the hospitality sector seized the chance to effectively showcase itself as a secure, welcoming, and appealing destination for sports delegations and international tourists. Additionally, it also highlighted the potential for investments in the hospitality sector. Industry experts believe that the interest surge is driven by favorable hotel and resort prices and the potential for Vietnam to recover from its tourism downturn and develop further. Additionally, foreign-managed hotels in Vietnam have shown better financial performance when compared to local hotels.
An increase in the number of tourists and a rise in the number of new hotels and hotel chains are driving the hospitality market. Strong economic growth, supporting government policies, increased competition among market participants, and industry players' adoption of appealing marketing and promotional methods are the key factors driving the growth of the Vietnam hospitality market during the projection period. Market participants' investments aimed at increasing the influx of travelers from these nations and providing cost-effective, high-quality services to global tourists are anticipated to enhance the growth of the hospitality and tourism market in Vietnam.
Vietnam Hospitality Market Trends
Rise in the Number of Visitors to the Country is Driving the Hospitality Industry
Vietnam's tourism industry continues to be among the fastest-growing tourist destinations in the world. It is no surprise that the number of tourists choosing to visit Vietnam is increasing yearly, with an incredible year-round climate, a lively culinary scene, a rich culture, countless stunning beaches, many lively cities, and stunning coastlines. This year, Vietnam experienced a significant increase in international visitors, reaching a total of 12.6 million. This figure represents a growth of 3.4 times compared to the previous year. However, it is important to note that this number only accounts for approximately 70% of the pre-pandemic levels. According to a report from the General Statistics Office, South Korea remained the top contributor of tourists, followed by mainland China, Taiwan, the U.S., and Japan. Thailand, Malaysia, Cambodia, India, and Australia also made significant contributions to Vietnam's tourism industry, with visitor numbers ranging from 390,000 to 489,000.
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Hotel Construction Project Pipeline is Anticipated to Meet the Increasing Demand in the Hospitality Industry
The pipeline of hotel construction projects is expected to meet the country's rising demand, which is indirectly driving the hospitality industry in Vietnam. According to the TOPHOTELPROJECTS construction database, Vietnam will receive 253 projects with 88,827 rooms. A multitude of international hotel brands have expanded their presence in Vietnam by acquiring domestic hotels in various locations. Marriott International, a global hotel management group, has recently entered into agreements with Vinpearl to oversee an additional seven hotels and resorts, including three in Nha Trang, Hoi An, and Danang, as well as four new builds that will offer over 1,200 rooms and are expected to open by 2028. With a current portfolio of 16 hotels and resorts in Vietnam, Marriott International plans to introduce several renowned brands to the country in the coming years, including The Ritz-Carlton, Westin Hotels & Resorts, Element by Westin, and Courtyard by Marriott. Another notable player in the hospitality industry is Lodgis Hospitality, which was established through a partnership between Warburg Pincus and VinaCapital. Presently, this enterprise owns and manages a total of 11 hotels and resorts in Vietnam and Cambodia. With aspirations to operate 10,000 rooms by 2025, the company is poised for further growth and expansion.
Furthermore, the country's major cities, particularly Ho Chi Minh City and Hanoi, are on course to see an influx of new hotels. 75 of the 130 hotel projects featured are four-star, with the remaining 55 guaranteeing five-star service. The most prominent locations for hotel development are Ho Chi Minh City, with 15 new properties totaling 7,323 rooms, and Hanoi, with 13 new buildings totaling 4,242 rooms. Da Nang anticipates 11 properties with a total of 2,933 rooms.
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Vietnam Hospitality Industry Overivew
The hospitality industry in Vietnam is fragmented and a combination of both international and domestic brands and chain hotels. The industry is still in a developing stage, and a majority of the hotels/chains are either independent or homegrown brand chains. The brand penetration rate is also growing, with the increasing number of domestic and international tourist activities in Vietnam. Some of the major players in the market are Vinpearl, Muong Thanh Hospitality, Accor Hotels, InterContinental Hotels Group, and Marriott International, among others.
Vietnam Hospitality Market Leaders
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Vinpearl
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Muong Thanh Hospitality
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Accor Hotels
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InterContinental Hotels Group
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Marriott International
- *Disclaimer: Major Players sorted in no particular order
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Vietnam Hospitality Market News
- November 2023: Marriott International recently revealed the launch of three upscale hotels in sought-after vacation spots in Vietnam. These comprise the Nha Trang Marriott Resort & Spa on Hon Tre Island, the Danang Marriott Resort & Spa in Non-Nuoc Beach Villas, and the Renaissance Hoi An Resort & Spa.
- August 2023: Fusion Hotel Group recently revealed the debut of Ixora Ho Tram by Fusion, a deluxe resort emphasizing wellness. Featuring 164 luxurious guestrooms and 46 exclusive villas, this outstanding establishment offers magnificent views of the beautiful coastline in southern Vietnam.
Vietnam Hospitality Industry Segmentation
Hospitality is the term used to describe the dynamic between a host and a guest, where the host welcomes the guest with a certain level of kindness, encompassing the act of receiving and entertaining guests, visitors, or individuals unknown to them. A complete background analysis of the Hospitality Industry in Vietnam, which includes an assessment of the industry, emerging market trends by segments, significant changes in the market dynamics, and a market overview, is covered in the report.
The Vietnamese hospitality market is segmented by type (chain hotels and independent hotels) and segment (Service apartments, budget and economy hotels, mid- and upper-middle-middle-scale hotels, and luxury hotels). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | Chain Hotels |
| Independent Hotels | |
| By Segment | Service Apartments |
| Budget and Economy Hotels | |
| Mid and Upper Mid Scale Hotels | |
| Luxury Hotels |
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Vietnam Hospitality Market Research FAQs
How big is the Hospitality Industry In Vietnam Market?
The Hospitality Industry In Vietnam Market size is expected to reach USD 5.88 billion in 2025 and grow at a CAGR of 13.94% to reach USD 11.29 billion by 2030.
What is the current Hospitality Industry In Vietnam Market size?
In 2025, the Hospitality Industry In Vietnam Market size is expected to reach USD 5.88 billion.
Who are the key players in Hospitality Industry In Vietnam Market?
Vinpearl, Muong Thanh Hospitality, Accor Hotels, InterContinental Hotels Group and Marriott International are the major companies operating in the Hospitality Industry In Vietnam Market.
What years does this Hospitality Industry In Vietnam Market cover, and what was the market size in 2024?
In 2024, the Hospitality Industry In Vietnam Market size was estimated at USD 5.06 billion. The report covers the Hospitality Industry In Vietnam Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Hospitality Industry In Vietnam Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Hotel in Vietnam Industry Report
Statistics for the 2025 Hospitality Industry In Vietnam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hospitality Industry In Vietnam analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
