Vietnam Hospitality Market Size, Share, Industry Trends, Growth And Report 2025-2033

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 7.0 Billion

Market Forecast in 2033: USD 20.7 Billion

Market Growth Rate (2025-33): 12.20%

The Vietnam hospitality market size was valued at USD 7.0 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 20.7 Billion by 2033, exhibiting a CAGR of 12.20% during 2025-2033. The market is driven by improved tourism infrastructure, expanding international air connectivity, rising domestic travel, and increased foreign investment in hotel chains. Government support through visa reforms and destination marketing, along with the country's appeal as a cost-effective leisure and business travel hub, further strengthens market growth momentum.

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Vietnam Hospitality Market Trends and Drivers:

Vietnam's hospitality sector is experiencing a fundamental shift beyond traditional sun-and-sand tourism, driven by affluent domestic travelers and discerning international visitors seeking deeply immersive, personalized experiences. Growth is increasingly fueled by high-end experiential offerings: luxury eco-resorts seamlessly integrated into landscapes like Phu Quoc or Ninh Binh, curated wellness retreats incorporating traditional Vietnamese medicine, and bespoke adventure itineraries exploring remote highlands or marine ecosystems. Future demand hinges on operators' ability to deliver unique narratives – think culinary journeys with master chefs, artisan craft workshops, or conservation-focused excursions. This trend necessitates significant investment in highly trained staff, authentic local partnerships, and innovative infrastructure that prioritizes exclusivity and connection over mere opulence. Luxury serviced apartments catering to extended“bleisure” stays and ultra-premium MICE facilities are also seeing accelerated demand, positioning Vietnam competitively against established regional players like Thailand and Bali, but requiring unparalleled service standards and cultural authenticity to sustain growth and justify premium rates.

Technology adoption is no longer a luxury but a critical driver of efficiency, guest satisfaction, and competitive advantage within Vietnam's rapidly evolving hospitality landscape. Growth is propelled by the widespread implementation of cloud-based Property Management Systems (PMS) and Central Reservation Systems (CRS) enabling real-time inventory management and dynamic pricing across complex, multi-property portfolios. Contactless solutions – encompassing mobile check-in/out, digital keys, in-room tablets, and AI-powered chatbots for concierge services – are becoming baseline expectations, significantly enhancing guest convenience while optimizing staffing. Future demand will be shaped by deeper integration: leveraging IoT for predictive maintenance and energy management, utilizing big data analytics for hyper-personalized guest experiences and targeted marketing, and exploring blockchain for secure, transparent bookings and loyalty programs. The imperative lies in investing not just in hardware, but in robust digital infrastructure, cybersecurity, and staff training to harness technology's full potential for seamless operations and creating frictionless, highly personalized guest journeys that foster loyalty and direct bookings.

Environmental, Social, and Governance (ESG) principles are fundamentally reshaping Vietnam's hospitality market dynamics, transitioning from a marketing niche to an essential operational and investment criterion. Driven by heightened global and domestic regulatory pressure, investor ESG mandates, and strong guest preference (particularly among Gen Z and Millennial travelers), sustainable practices are now central to growth strategies. This encompasses tangible actions: large-scale renewable energy adoption (solar PV), rigorous zero-waste initiatives eliminating single-use plastics, comprehensive water conservation and wastewater treatment systems, and sourcing hyper-local, organic produce. Future demand will be intrinsically linked to demonstrable sustainability credentials – properties lacking credible certifications (like Green Key, LOTUS) or transparent reporting will face significant market disadvantages. Investment is increasingly directed towards retrofitting existing assets and designing new developments with biophilic principles, circular economy models, and robust community engagement programs that uplift local livelihoods and preserve cultural heritage, making sustainability a non-negotiable pillar for long-term resilience, cost management, and attracting both conscious consumers and capital.

Vietnam Hospitality Market Industry Segmentation:

Analysis by Type:

• Chain Hotels
• Independent Hotels

Analysis by Segment:

• Service Apartments
• Budget and Economy Hotels
• Mid and Upper Mid Scale Hotels
• Luxury Hotels

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• Vinpearl.com
• Muong Thanh Hospitality
• Accor
• InterContinental Hotels Group
• Marriott International, Inc.
• Diamond Bay Resort & Spa
• A25 Hotel
• H&K Hospitality
• The Ascott Limited

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email:

Tel No:(D) +91 120 433 0800

United States: +1-201971-6302

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