Ho Chi Minh City hotel stock hits 25,500 rooms

There are 265 properties across midscale and higher segments.

Ho Chi Minh City's hotel market recorded RevPAR growth of more than 15% year-on-year in the first half of 2026, with constrained new supply supporting operators' pricing power, according to JLL.

No new hotel supply entered the market in Q2, leaving the city with approximately 25,500 rooms across 265 operational properties in the midscale and higher segments. JLL said the stable supply base has supported market fundamentals amid steady demand.

The market also retains substantial potential for repositioning. Around 60% of properties remain unbranded, according to JLL, creating opportunities for owners to capture additional value through repositioning and brand affiliation as international hotel operators expand their presence in the city.

H1 performance remained strong despite the normalisation of seasonal demand following the Lunar New Year peak. JLL said RevPAR increased more than 15% year-on-year, demonstrating continued pricing power.

Quarter-on-quarter performance moderated as holiday-related demand effects faded, but average daily rates remained strong while occupancy was stable. JLL said the combination indicates that operators have been able to sustain elevated room rates despite more normal seasonal conditions.

The supply outlook remains tight through the end of 2026. Project delays have pushed most new developments into 2027, including Best Western Central Home Saigon and Caption by Hyatt Saigon, JLL said.

With supply growth effectively stalled and tourism demand continuing to support the market, JLL expects ADR and RevPAR to maintain positive growth through the second half of 2026, particularly during upcoming peak travel periods.