US giant backs Vietnam’s bid to lead ASEAN gas trade
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Homestay businesses in the country have increased five-fold within a year.
Data by AirDNA, provider of short-term vacation rental data and analytics, shows that the supply of homestay accommodation in the country has bolstered some 500 per cent in a year, an impressive growth compared to traditional hotel accommodation that went up by only 40 per cent.
Ho Chi Minh City and Hanoi are the country's biggest homestay markets with the former having 11,322 listings and the later 5,078 listings.
According to property consulting company Savills Hotels Asia - Pacific, the number of listings on Airbnb in the country inreased from 1,200 units in 2015 to 36,319 units last year.
Meanwhile, AirDND reveals that homestay service in the country earned $130 million last year.
Provinces and cities that enjoyed the increase in annual revenue from homestay service last year were Ho Chi Minh City with $41.6 million, Danang $19 million, Hanoi $13.3 million and Khanh Hoa $7.6 million.
Given the emergence of online accommodation platforms like Airbnb and Luxstay, travelers now have more options to book for their accommodation across the world. Technologies are indeed helping reshape the habit of customers and the growth of the accommodation market.
Homestay accommodation is often designed for short-term stays and its revenue is estimated to be 20 to 30 per cent higher than traditional hotel or motel accommodations. The profit can even go as high as 200-300 per cent if the accommodations are located within the tourist attraction areas.
Homestay service does not require a high upfront cost so this business model has attracted quite a lot of local home owners to join the segment in recent years.
According Luxstay’s representative Can Phuong Ha, the home sharing accommodation segment in Vietnam is growing fast and will continue to grow in the coming years, with potential to attain some 10-20 per cent of the total accommodation spending, or roughly market $15 billion by 2025.
Vietnam with its long coastline of over 3,400 kilometers, lush tropical forests, rich food and culture heritages, have been the choice of many travelers.
With its real estate market boom, there have been a large number of hotels, resorts, villas and condotels being built in recent years, contributing towards a large bank of accommodation units available to tourists.
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.