Ho Chi Minh City to add 52 rooms to its hotel stock in Q4

Supply constraints are expected to persist until 2026.

In Q4 2025, Ho Chi Minh City will welcome the Vignette Collection, an IHG luxury brand with a 52-key boutique-style hotel in the city centre, according to a JLL report.

“2026 will see continued supply constraints in the former HCMC, as most projects remain on hold with projected opening dates now pushed beyond Q4 2026,” the report said.

Here’s more from JLL:

Since the opening of Suzu Hotel in Q4 2024, HCMC’s hotel market has seen muted new supply activity. Sheraton Saigon Grand Opera Hotel completed renovations in 3Q 2025, returning 105 keys to the market.

With more than 25,000 keys in the Midscale and above segments citywide, unbranded hotels still dominate with 63% of total keys. This rises to 90% in the Midscale segment and 65% in Upper Midscale, indicating significant potential for future upgrading and rebranding demand.

JLL makes an impressive mark on the capital market with the successful sale of PARKROYAL Saigon

RevPAR performance saw robust growth, driven by consistently improving occupancy rates that increased significantly from last quarter and compared to the same time last year. ADR remained stable q-o-q and Y-o-Y, with slight increases attributed to exchange rate adjustments.

In Q3 2025, JLL completed two hotel transactions in Vietnam, selling to both a domestic investor and an international investor group, in both an urban and resort destination, demonstrating the continued activity in Vietnam’s hotel capital markets and breadth of demand for assets.