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| An artist’s impression of Hotel Nikko Saigon on Nguyen Van Cu Street in District 1 - Photo: Courtesy of JAL Hotels Company Limited |
The 23-storey hotel located on Nguyen Van Cu Street in District 1 will come into operation on December 18 and become the second hotel in Vietnam of JAL, a subsidiary of Japan Airlines, after Hotel Nikko Hanoi.
The Hotel Nikko Saigon with the total investment capital of $100 million has 334 hotel rooms, 53 serviced apartments and a business center of 520 square meters. The hotel is part of a complex having Taiwan-based Fei Yueh Co. as investor.
This Taiwan company put into operation its two 14-storey towers for office leasing and shopping space in 2008. The third phase of the complex was scheduled for commencing soon.
The HCMC hotel market currently has around 10,000 rooms of three- to five-star hotels, 70 per cent of them in District 1.
The average occupancy rate was 60 per cent in this year’s second quarter, down 21 percentage points from the first quarter. The hotel room price was $83 per night on average, dipping 12 per cent compared to quarter 1, according the market researcher Savills Vietnam Co.
The number of international tourists coming to HCMC in the first six months reached 1.7 million people, most of whom came from the U.S., Japan and Australia, up 10 per cent from the same period last year.
Besides, foreign MICE (meetings, incentives, conventions and exhibitions) visitors were potential ones for the city’s hotel market, rising to 30 per cent from 15 per cent in last year’s first half.
Savills anticipated there would be about 6,200 rooms of 25 three- to five-star hotel projects entering the market in the future, some 1,500 of which would be completed in 2012 including 750, 630, 170 rooms of five-, four- and three-star hotels respectively.
However, some current macro policies negative to the real estate market could affect the completion of many projects, according to Savills.
Source Saigon Times
