Ho Chi Minh City Hotel Market Dynamics Q4 2025

Ho Chi Minh City’s hotel sector showed strong momentum in Q4 2025, led by a recovery in international tourism and thriving domestic travel. The city welcomed 8.6 million international visitors for the year, a 40% y-o-y surge that surpassed the national average, along with 45 million domestic arrivals (+18.4% y-o-y). The official opening of the Rêve – Vignette Collection by IHG, a 52-room luxury boutique hotel in the city center, marked the sole addition of an international brand in 2025. RevPAR recorded impressive double-digit growth, rising 33.5% q-o-q and 16% y-o-y, while ADR increased by 23% q-o-q and 13.8% y-o-y, reflecting strong market pricing power during the peak tourist season. Looking ahead, the market is expected to face continued supply constraints through 2026, but revenue optimization prospects remain positive due to anticipated growth in both occupancy and ADR.

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