Property
Hanoi high-end hotels go West
For the first time, an international brand hotel has been opened in Ha Dong district, marking a further step in the movement of commercial real estates towards the West of Hanoi.
Wyndham Hotels & Resorts, the world's largest hotel franchisor and a leading provider of hotel management services, has launched its first Wyndham Garden hotel in the West of Hanoi, which is also the first international hotel in Ha Dong district.
Developed by PPC An Thinh Vietnam Investment and Infrastructure Development JSC (PPCAT), Wyndham Garden Hanoi is expected to blow a new wind in one of Hanoi’s fastest growing areas.
Located at a distance of 3.6 kilometres from the intersection of Khuat Duy Tien and To Huu streets, Wyndham Garden is the furthest international hotel in the West from the centre of Hanoi, marking a new step in Hanoi's urbanization process.
Most 4-5 star hotels in Hanoi are located in central business districts of Ba Dinh, Hoan Kiem, Dong Da, and Tay Ho.
For the last decade, hotel investors have started moving to new urban areas located alongside Pham Hung street in the West of Hanoi, including international brands such as InterContinental Landmark 72, JW Marriott Hanoi, Crowne Plaza West Hanoi and owner brand like Grand Plaza.
According to the property consulting firm CBRE, Hanoi had 7,770 four- to five-star rooms by the end of 2018, of which two-thirds are in the 5-star category. Most of them are concentrated in Hoan Kiem and Ba Dinh districts, accounting for nearly half of Hanoi’s supplies. Nam Tu Liem district meanwhile accommodates three 5-star hotels with 1,202 rooms, accounting for 15.5 per cent of the city’s supplies.
It is expected that this trend would accelerate as some new projects located in Dong Da and Tay Ho districts come into operation in the next three years.
According to CBRE, the 4-5 star hotel segment experienced a positive operation in 2018 due to a growing gap between supply and demand. Hanoi is one of the places in Southeast Asia having the highest average hotel room rates, reaching $112.6 per night with an average occupancy of 78.4 per cent.
Besides tourists, hotels in the West of Hanoi, especially JW Marriott, which recently accommodated current US president Donald Trump and former US president Barrack Obama during their trips to Vietnam, attracts a huge number of guests who are entrepreneurs or participants of meetings and conferences.
Property consultants say that it is getting more and more difficult for investors to find large land plots to built 5-star projects in Hanoi’s central and core urban districts.
Whereas, the areas previously considered "suburban" like Ha Dong district are gradually becoming more crowded than ever. Better infrastructure and traffic connection are among the key reasons for the formation of world-class hotels.
Accommodation at Wyndham Garden Hanoi includes 112 rooms of Deluxe King, Twin Rooms, Junior Suites, Deluxe Suites, and the opulent Presidential Suite features two bedrooms with en-suite bathrooms.
This hotel also offers state-of-the-art conference and banqueting space, including a 200-guest ballroom, three smaller meeting rooms, and a large pre-function area, all supported by professional staff and audio-visual equipment.
Wyndham Garden Hanoi general manager Dilip Madhok expresses his hope to open up this dynamic district of Hanoi to even more international travelers in the future.
Joon Aun Ooi, president and managing director of Wyndham Hotels & Resorts, South East Asia and Pacific Rim claims Vietnam's tourism industry is currently riding the crest of a wave; the country welcomed a record 15.5 million international visitors in 2018, up 20 per cent year-on-year.
“With an array of attractions, excellent connectivity, and tourism-friendly government policies, I am confident that Vietnam's star will continue to rise in future,” said Joon Aun Ooi.
With a portfolio of 20 hotel brands, Wyndham is the world's largest hotel franchising company operating approximately 9,200 hotels across more than 80 countries through its network of about 810,000 rooms.
Wyndham Garden Hanoi becomes Wyndham Hotels & Resorts' second property in Vietnam, following Wyndham Legend Halong which overlooks the iconic seascape of Halong Bay.
Wyndham is also collaborating with PPCAT on another hotel project, Wyndham Soleil Danang, which is scheduled to open later this year on Vietnam's central coast.
Hyatt teams up with BIM Group to develop luxury resort on Phu Quoc island
Luxury apartment prices soar in Hanoi amid supply shortage
The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
Revitalizing Vietnam’s hospitality sector: A shift in branding
Vietnam's hospitality industry is undergoing a major transformation with a brand repositioning strategy that emphasizes unique, sustainable, and community-focused experiences.
Hanoi’s apartment market surges as prices hit new heights
High demand and limited supply drive transactions in major urban areas despite soaring costs.
Real estate sector anticipates new investment wave
Despite the real estate market's lackluster performance, several companies are accelerating land acquisition efforts.
Savills: Home prices surge due to rising land compensation costs
Hanoi is set to receive a significant future supply of over 100,000 apartments starting from 2025, a tenfold increase compared to the current availability.
Hanoi's apartment prices: When will they cool down?
Hanoi’s apartment prices are expected to continue rising until supply and legal bottlenecks are resolved, according to experts.