Vietnam became the fourth top market in Asia Pacific after Japan, Australia and China in terms of hotel investment volumes in the first six months of 2016 with increased activities expected for the second half of the year, Thanh Nien News Online reported on Sunday.
In its Hotel Investment Highlights report, property consultancy Jones Lang LaSalle said that transactions in Vietnam for the first six-month period hit US$237.6 million which has beaten Taiwan’s and Thailand’s.
Among the top ten is the InterContinental Asiana Saigon in Ho Chi Minh City with an investment of US$74.9 million.
Total transactions in the region increased 13.2 percent to $3.8 billion from a year ago, including more than half from Japan market which is expected to continue to dominate investment volume for the remainder of the year.
But Jones Lang LaSalle representatives said there will be stronger buying activity in Vietnam as well as Korea, Myanmar and Thailand.
Vietnam’s tourist arrivals grew 21 percent for the first half of the year and the country hopes to reach its goal of receiving 8.5 million foreign visitors by yearend – 7 percent increase from last year.