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The CEOs of Six Senses and The Brgenstock Collection discussthe luxury resort of the future

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The 2014 hotel outlook around the world:45 country reports from Horwath HTL

Our trend spotters on asset management, sustainability,digital marketing, tourism and revenue management in 2014

Industry observations from our academic partners Cornell, Lausanne,

Hong Kong Polytechnic and ESSEC

2014HOTELYearbookFORESIGHT AND INNOVATION IN THE GLOBAL HOTEL INDUSTRY

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At Horwath HTL, we ocus one hundred percent on hotels, tourism and leisure. With over two hundred and ify

proessionals world wide, our network can draw on a tremendous amount o international experience and local

knowledge that gives us, and our clients, a unique advantage.

We offer a broad range o advisory solutions that covers the whole cycle o the hotel product, starting with planning

and development, on to asset management and operational advice, to transactional and inancial restructuring. At any

stage, Horwath HTL will add value to your project and ensure that you receive the very best support every step o the

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COUNTRYREPORT

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2013 SNAPSHOT:

The slow-growth economy saw stabilized inflation at 6.7%

in June 2013 (compared to the peak 23% in August 2011), a

steady exchange rate and increased reserves.

According to the 2013 ASEAN Business Outlook Survey by

AmCham Singapore, Vietnam is the most popular location

for investment expansion in the region (57%) due to its

low wages, favorable demographics, strategic location and

political stability. Thailand is the next favored destination

at 11%, followed by Singapore at 8%.

At year-to-date October 2013, international arrivals to

Vietnam grew by 14% to record approximately 6.1 million

arrivals. China continues to be the largest feeder market

(41% increase YoY to 1.5 million arrivals). Russia is thefastest growing market (66% increase YoY to 230,000

arrivals). The country is targeting 7.5 million arrivals by

2015.

According to STR Global, year-to-date September 2013,

the 3- to 5-star hotel market in Hanoi and Ho Chi Minh City

(HCMC) saw occupancy increase to 66% and 67%, but ADR

decrease to US$ 108 and US$ 120, resulting in YTD RevPAR

increasing by a marginal 2% and 1% YoY, respectively.

BUSINESS SCENARIOS FOR 2014 AND BEYOND:

Despite government eorts to stimulate the economy

through tax breaks and accommodative monetary policy,

Vietnams economy has not been able to jumpstart from the

growth slowdown. Vietnams real GDP growth is forecasted

at 5.3% in 2013 and 5.4% in 2014. Without broad structural

reforms, Vietnam will be facing the threat of long, slow

growth, which eventually will undermine investor confidence

and further worsen growth prospects.

On the positive side, Vietnam, together with Thailand,

Cambodia, Laos and Myanmar, recently launched the Five

CountriesOne Destination Single Visa scheme under the

Ayeyawady-Chao Phraya-Mekong Economic Cooperation

Strategy, which allows non-ASEAN tourists to travel freely

across their borders. By 2015, these 5 countries expect to

receive 50 million international arrivals. Vietnam will certainly

benefit from such synergies.

According to STR Global, the hotel supply pipeline forVietnam year-to-date September 2013 stood at 46 hotels

representing about 10,000 rooms, mostly expected over the

next three years.

HCMC outlook: Due to the lack of tourism infrastructure in

HCMC, repeating international tourists prefer to travel directly

to other tourist places without transiting in HCMC. Aer a

breakthrough in 2010/11 with more than a 10% increase

in ADR and RevPAR, the hotel market in HCMC has not

succeeded in maintaining this growth. However, acting as a

gateway to Vietnam, HCMC should continue to experience

growth in arrivals, allowing for sustained occupancy levels inthe range of 65% to 70%.

Hanoi outlook: Upon completion of Terminal 2 in April

2015, Noi Bai International Airport will be able to handle

16 million passengers per annum and compete with Tan

Son Nhat International Airport in HCMC as the preferred

gateway to Vietnam. Hanoi remains an attractive destination

for international tourists given its historical and cultural

elements. With the entrance of international branded

hotels, including the Hilton Garden Inn, JW Marriot and

InterContinental Landmark 72 in 2013/14, the hotel market

ADR is anticipated to increase due to high price points fromthis new supply, but market occupancy will be negatively

aected in the short run.

VIETNAM byVan Phan i

Country reports are brought to you byHorwath HTL

CO

UNTRYREPORTS

Van Phanis a Consultant at Horwath HTL Singapore. She is

responsible or conducting easibility studies and valuation, advising

clients on potential hotel and resort developments including market

analyses, acilities recommendations and inancial projections. Prior

to joining Horwath HTL, Van was part o Starwood Asia Paciics

team, looking afer Pre-Opening, New Builds & Transitions.

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The CEOs of Six Senses and The Brgenstock Collection discuss the luxury resortof the future

ESPAs Sue Harmsworth on the coming changes in the global hotel spa industry

The 2014 hotel outlook around the world: 45 country reports from Horwath HTL

Our trend spotters on asset management, sustainability, digital marketing,tourism and revenue management in 2014

Industry observations from our academic partners Cornell, Lausanne, Hong KongPolytechnic and ESSEC

2014HOTELYearbookFORESIGHT AND INNOVATION IN THE GLOBAL HOTEL INDUSTRY

www.hotel-yearbook.com

This e-publication may beorderedonline| 19.50

For more country reports by Horwath HTL

Click hereto purchasethe full edition ofThe HOTEL Yearbook 2014

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