By the end of 2022, Da Nang is expected to have 10 more projects with 2,442 rooms, bringing the total supply of 4- and 5-star hotel rooms to nearly 18,000 rooms with 91 projects.
By 2024, the central coastal city is expected to have a total of 99 4-5 star hotel projects, with a total supply of more than 21,000 rooms with a series of new brands to be launched such as Mandarin Oriental, JW Marriott, Le Meridien, Wink Hotels or Lyf by The Ascott Limited.
The coastal area of Da Nang is welcoming more room supply. Photo: Nhan Tam
This information has just been shared by a representative of CBRE Vietnam – a company specializing in real estate research and consulting – on July 26, at the press conference to announce the focus of the Danang real estate market in the first half of 2022.
From now to 2024, room rent is forecast to increase by 25%/year and may reach $119/room/night by 2024. Room occupancy will recover to pre-epidemic levels of 63%.
However, according to CBRE, in the short term, the operation situation will not be able to return to the pre-epidemic level in the near future because the unpredictable developments of the Covid-19 epidemic in the world may affect the situation. Therefore, in 2022, room rent is forecasted to increase by 30% over the same period, reaching $79/room/night. Room occupancy will reach 53.2%, up 43.5 percentage points compared to 2021.
Also at the press conference, a representative of CBRE Vietnam said that since August 2021, Da Nang has stopped licensing new condotel projects to solve the supply-demand imbalance after a long period of hot growth, so in the future, the new supply will mainly come from pre-licensed projects or the next stage of sale. In the period 2022 – 2024, Da Nang will have about 1,800 condotel units.
@ Saigon Tiep Thi