VIỆT NAM’S HOTEL INVESTMENT MARKET TO CROSS $125 MILLION IN FY25: JLL

Việt Nam's hotel market will attract over US$125 million in cumulative investments in 2025 as the country’s tourism market eclipses pre-Covid levels, according to data and analysis by JLL Vietnam, a professional services firm specialising in real estate and investment management.

A hotel in HCM City. Việt Nam's hotel market will attract over US$125 million in cumulative investments in 2025. – Photo courtesy of TripAdvisor

HCM CITY – Việt Nam's hotel market will attract over US$125 million in cumulative investments in 2025 as the country’s tourism market eclipses pre-Covid levels, according to data and analysis by JLL Vietnam, a professional services firm specialising in real estate and investment management.

The company said that the market is poised to enter a prolonged period of investment growth driven by an influx of tourists and the completion of new infrastructure.

The positive outlook for the country’s hotel investment market to reach $125 million in 2025 is revised upward from an earlier forecast of $100 million, reflecting improved market conditions and strong investor sentiment.

Looking ahead to 2026, JLL projects transaction volumes to climb to $200 million, driven by robust tourism recovery, strong domestic economic growth, and available capital.

Southeast Asia, including Việt Nam, is expected to maintain its historical share of 10 – 13 per cent of Asia Pacific’s total hotel investment volume, aligning with pre-pandemic levels.

“Despite recent political uncertainties limiting transaction activity, investor interest remains strong. Foreign buyers are targeting well-established assets with long lease terms in key destinations, while domestic capital is increasingly active in Hà Nội and HCM City. However, challenges persist in unlocking institutional-grade assets, which is critical to sustaining transaction momentum,” said Trang Lê, country head, JLL Vietnam.

Việt Nam’s tourism revenue has fully recovered from the pandemic, achieving remarkable milestones in 2024 with approximately VNĐ840 trillion ($32.96 billion), a VNĐ84 trillion ($3.2 billion) increase compared to pre-pandemic 2019 levels.

Key drivers include the rise in cruise tourism, meetings, incentives, conferences, and exhibitions (MICE) activities, and high-profile social events, bolstered by major cruise lines like Royal Caribbean and MSC Cruises adding Việt Nam to their itineraries.

While Mainland China, historically Việt Nam’s largest source market at 32 per cent pre-pandemic, accounted for just 24 per cent of visitors in early 2025 due to slower outbound travel recovery and then 29 per cent in the first eight months of the year, other markets have shown resilience.

Year-to-date August 2025 data indicates significant year-on-year growth from Russia and Cambodia, alongside steady demand from South Korea, Taiwan, the USA, and Japan, while India continues to grow strongly.

The outlook is further supported by Việt Nam’s favourable visa policies, security, stability, and proactive tourism promotion campaigns in Europe. The Government’s emphasis on sustainability and digitalisation is shaping future supply, particularly in the upscale segment.

“If owners bring quality assets to market, we see significant scope for Vietnam to capture increasing investor demand over the next 18 months,” said Trang. – VNS

Source: VNS

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