According to the report analysis, ‘Accommodation
Service Comprehensive Report Q1/2020’ states that in the accommodation
service there are numerous corporates which recently performing more
significantly for leading the fastest market growth and registering the
handsome value of market share around the globe in the near years throughout
the upcoming years while delivering the better consumer satisfaction,
decreasing the associated prices, spreading the awareness related to the
accommodation service, employing the young workforces, engaging the developed
technologies, studying the government’s norms, and implementing the profitable
strategies includes Saigon Stec Co.,Ltd, Intel Products Vietnam Co., Ltd,
Foster Electric Vietnam Co. Ltd, Hosiden Vietnam Co. Ltd, Haesung Vina Co. Ltd,
Meiko Vietnam Co. Ltd, Hanoi Doosung Tech Co. Ltd, Sumidenso Vietnam Co. Ltd
and several others.
In addition, over the past decade, the tourism
has become more and more reachable to the individuals of the world. Therefore,
the tourism industry has established strappingly, specifically in present
years. The tourism industry in present years has been the propelling force for
the growth of the volume of accommodation creations. The volume of hotel rooms
and rooms in the world tends to increase uninterruptedly over the years in the
duration of 2014-2025f. During the present time, there are more than 700,000
hotels and resorts distributed around the globe.
Vietnam is one of the wildest increasing
tourist destinations across the Southeast Asia thanks to several favorable
aspects such as the growth in the volume of tourists, new hotel brand names
incoming the market, tranquil visa policy along with the advancement of
infrastructure. In the primary 9 months of 2019, the volume of the international
visitors to Vietnam augmented over the similar duration in 2018. The total
revenue from tourists augmented over the same duration last year.
Thanks to the advancement of the domestic
tourism industry in the past years, the volume of the businesses delivering
accommodation services has also been increasing progressively every year. In
the duration of 2010-2017, the volume of businesses functioning in the
hospitality industry obtained an annual compound growth.
In Q4/ 2019, the supply of the Hanoi and Ho
Chi Minh City did not have much unpredictability. The supply deducted faintly
in Hanoi and continued constant in HCM City. The average functional volume and
rental costs of Hanoi and HCM City markets in Q4/ 2019 chronicled a strong
augment in all sectors thanks to the foremost tourist season of the two
regions. The foremost tourist regions such as Da Nang, Nha Trang and Phu Quoc
all had quite great levels of functional volume.
During the recent time, consumer desire
staying in hotels that compromise them a contented understanding of staying in
a home, start-ups are onboarding asset owners that deliver homestays to
consumers at much competitive costs. These start-ups are also establishing the
tourism packages that provide the consumers the leisure of discovering the city
surrounds.
To overwhelm this challenge, stakeholders
across the hotels market are volunteering to unveil their own version of
Airbnb. Legacy hotel corporates focus to objective their marketing strategies
towards the older millennial consumers, as people with families opt for more
outdated resources obtainable at legacy hotels. Not only has this, the growth
in worldwide consumer buying power, growth of economies, and digital innovation
are cumulatively propelling the enlargement of the travel and tourism industry,
which is subsequently propelling the accommodation services market. Therefore,
in the coming years, it is predicted that the market of accommodation services
will increase more significantly over the coming years.
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Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
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