Grant Thornton, a consulting and accounting firm, released its 16th annual survey of upscale hotels and resorts. The results of the Vietnam Hotel Survey showed that based on certain performance criteria, 5-star hotels scored higher in 2017 to 2018 than did the 4-star ones.
Looking at the occupancy criteria, guests are more likely to book accommodations at 5-star hotels in Ho Chi Minh City and other places in Vietnam. The results of the survey showed that 5-star hotel percentages on occupancy rose by 0.5 percent, compared to the 1 percent decrease for 4-star hotels. The rise and fall in occupancy rates for 5- and 4-star hotels respectively are despite the 4.1 percent price increase in the former and the 2.3 percent decrease in the latter. The increases and decrease have the average amount equivalent of USD 107.6 in 2017 to USD 112 in 2018 for 5-star hotels and USD 75.2 to USD 73.4 in the same period for 4-star hotels.
The revenue per available room or RevPar consequently went up to USD 83.4 from USD 79.1 for 5-star hotels but went down by 3.6 percent for 4-star hotels. Numbers from the reservation channels of tour operators and travel agencies revealed an overall decrease for both categories, but 4-star hotels had a much larger decrease at 7.1 percent compared to the 2.8 percent decrease for 5-star ones.
The survey also included how open to digital developments, technological advancements, and online marketing both these hotel categories are. On all aspects, 5-star hotels also scored higher with 95.5 percent employing data mining and analytics compared to only 77.8 percent of 4-star hotels doing the same.Mobile apps and online check-in and check-out are used mostly by 5-star hotels. The survey reported 5-star hotel percentages at 54.5 and 42.9 respectively, compared to 4-star numbers at 34.6 and 28.6 only respectively. Even social media is utilized fully by 5-star hotels to reach their intended audience and markets, with the 100 percent confirming use of platforms such as Facebook and Twitter, while 4-star hotel percentage is only at 96.3.
The results of the Grant Thornton are clear. When it comes to accommodations, 5-star hotels in Ho Chi Minh City and in the rest of Vietnam have performed better than 4-star hotels. These hotels have invested in and maximized on developments digital or otherwise to ensure their growth.