Limited capital markets
•An emerging condo market in Hanoi and HCMC
•Conspicuous consumption
•Ability to borrow from local banks at 10-11% per annum
•Consistently rising GDP and FDI
•China + 1, APRC, the Stock Market and entry to WTO has put Vietnam on the radar
screen, coupled with the ML report in Feb and the Euro Money Conference in Mar 2006
•Saturation in other South East Asian markets
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REDISCOVERING VIETNAM’S REAL
ESTATE POTENTIAL
1st March, 2007
Renaissance Hotel, Kuala Lumpur, Malaysia
Presented by:
Marc Townsend – Managing Director
CB Richard Ellis | Page 2
Client Logo
Goes Here
WHAT HAS BEEN DRIVING THE PROPERTY MARKET
SINCE 2003?
•Limited capital markets
•An emerging condo market in Hanoi and HCMC
• Conspicuous consumption
• Ability to borrow from local banks at 10-11% per annum
• Consistently rising GDP and FDI
• China + 1, APRC, the Stock Market and entry to WTO has put Vietnam on the radar
screen, coupled with the ML report in Feb and the Euro Money Conference in Mar 2006
• Saturation in other South East Asian markets
CB Richard Ellis | Page 3
Client Logo
Goes Here
MAP OF VIETNAM
CB Richard Ellis | Page 4
Client Logo
Goes Here
HO CHI MINH CITY
CB Richard Ellis | Page 5
Client Logo
Goes Here
VIETNAM TODAY
• No Starbucks and No MacDonalds
• World leaders in pepper, coffee, cashew, shoes, fish/prawns, oil & gas exports
• No shortage of land, just good sites
• “If you build it, they will come” still exists but may not last much longer
• Many similarities to China in the early 90s in terms of work ethic, chaos on the
streets, migration of work force and market driven decisions
• Traffic, complete absence of infrastructure, MRT/MTR, bridges and tunnels
CB Richard Ellis | Page 6
Client Logo
Goes Here
HCMC OFFICE MARKET
HCMC Prime Office Stock End of Q1.2007
200,000
250,000
300,000
350,000
Q
1 /
0 4
Q
2 /
0 4
Q
3 /
0 4
Q
4 /
0 4
Q
1 /
0 5
Q
2 /
0 5
Q
3 /
0 5
Q
4 /
0 5
Q
1 /
0 6
Q
2 /
0 6
Q
3 /
0 6
Q
4 /
0 6
Q
1 /
0 7
s qm
Office Stock at the beginning of the quarter New supply during the quarter
CB Richard Ellis | Page 7
Client Logo
Goes Here
HCMC OFFICE MARKET
Prime Office Rental Index
0
20
40
60
80
100
120
140
160
Q
1
9
8
Q
2
9
8
Q
3
9
8
Q
4
9
8
Q
1
9
9
Q
2
9
9
Q
3
9
9
Q
4
9
9
Q
1
0
0
Q
2
0
0
Q
3
0
0
Q
4
0
0
Q
1
0
1
Q
2
0
1
Q
3
0
1
Q
4
0
1
Q
1
0
2
Q
2
0
2
Q
3
0
2
Q
4
0
2
Q
1
0
3
Q
2
0
3
Q
3
0
3
Q
4
0
3
Q
1
0
4
Q
2
0
4
Q
3
0
4
Q
4
0
4
Q
1
0
5
Q
2
0
5
Q
3
0
5
Q
4
0
5
Q
1
0
6
Q
2
0
6
Q
3
0
6
Q
4
0
6
Q
1
.
0
7
I
n
d
e
x
(
Q
1
1
9
9
8
=
1
0
0
)
And the upward trend will continue due to:
• Growing demand
• Delays in new supply
US-VN Bilateral
Trade Agreement
CB Richard Ellis | Page 8
Client Logo
Goes Here
Major Buildings
Existing - Future
Centec
EVN
Vietcombank
Times Square
M&C Tower
Financial Tower
VPBank
Sailing Tower
Pacific Place Asiana Plaza
Metropolitan
Saigon Tower
Sun Wah
Saigon Center
Diamond Plaza
Gemadept
Saigon Trade Center
Me Linh Point
PetroVietnam9 DTH
Vimedimex
Sacombank
Bao Viet
Golden Tower
CB Richard Ellis | Page 9
Client Logo
Goes Here
HCMC OFFICE MARKET
SOME OF THE NEW OFFICE BUILDINGS COMPLETED IN
Q1. 2007
Opera View, Dist. 1 Lancaster, Dist. 1 Rosaco, Dist. 1
Petro Vietnam,
Dist. 1 E – Town 2, Tan Binh District
Estimated Total Supply in
Q1. 2007: 47,843 sqm
CB Richard Ellis | Page 10
Client Logo
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HCMC OFFICE MARKET
Take up and vacancy rate of
HCMC office buildings
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
Q1.04 Q2.04 Q3.04 Q4.04 Q1.05 Q2.05 Q3.05 Q4.05 Q1.06 Q2.06 Q3.06 Q4.06
s q m
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
%
Take-up (Sqm) Vacancy Rate (%)
CB Richard Ellis | Page 11
Client Logo
Goes Here
HCMC OFFICE MARKET – Rental Rates
Rental growth of Grade A
2006 - 2007
23
29.5
Q1/2006 Q1/2007
*Note : Rents excluding S . C and VAT
uni t : US$
growth rate 28%
Q1 - 2006 $23.00
Q1 - 2007 $29.50
Increase of 28%
Occupancy 100%
CB Richard Ellis | Page 12
Client Logo
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HCMC OFFICE MARKET – Rental Rates
Rental Growth of Grade B
2006 - 2007
21
26.5
Q1/2006 Q1/2007
* Note : rents e xcluding S .C and VAT
uni t :US$ growth rate 26%
Q1 - 2006 $21.00
Q1 - 2007 $26.50
Increase of 26%
Occupancy 99%
CB Richard Ellis | Page 13
Client Logo
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HCMC OFFICE MARKET – Rental Rates
Rental Growth of Grade C
2006 - 2007
17.5 20.5
Q1/2006 Q1/2007
* Note : rents excluding S .C and VAT
uni t : US$ growth rate 17%
Q1 - 2006 $17.50
Q1 - 2007 $20.50
Increase of 17%
Occupancy 95%
CB Richard Ellis | Page 14
Client Logo
Goes Here
HCMC OFFICE MARKET
Market Outlook in 2007:
9 Limited grade A office space still
remains.
9 Some new supply of Grade B office
space expected to come on line during
2007.
9Factors driving demand: Strong
economic growth, FDI growth, WTO
access, new multi-national companies,
expansion of existing multi-national
companies, Vietnam companies
upgrading, safety & quality Issues
9 Grade A office rental rates reflects
upward momentum and growing demand
vis-à-vis tight supply
9 Vacancy rate remains low, grade A (0%)
and B (<1%)
180,657182008
187,824152009
273,146122010
800,42572TOTAL
158,798272007
Expected
supply
(sqm)
Supply of
new grade
A, B & C
buildings
Expected
year of
completion
CB Richard Ellis | Page 15
Client Logo
Goes Here
HCMC OFFICE MARKET
HCMC MAJOR UNDER CONSTRUCTION OFFICE DEVELOPMENTS IN Q1&Q2/07
3,100
8,000
27,000
1,600
10,143
10,780
3,960
7,600
6,000
11,945
6,000
0 5,000 10,000 15,000 20,000 25,000 30,000
Opera View - Dist. 1
Rosaco Tower - Dist. 1
E-Town 2 - Tan Binh
Lancaster
Petro VN, Dist. 1
Vimedimex - Dist. 1
E-Star, Dist. 3
ITAXA, Dist. 3
N'Orch - Dist. 1
Cetpa - Tan Binh
Manulife - Dist. 7
Q
1
.
2
0
0
7
Q
2
.
2
0
0
7
(Source: CBRE)
sqm
CB Richard Ellis | Page 16
Client Logo
Goes Here
HCMC OFFICE MARKET
EXPECTED FUTURE SUPPLY OFFICE SPACE
(2007 - 2010)
273,146
187,824180,657
158,798
Expected completion in
2007
Expected completion in
2008
Expected completion in
2009
Expected completion in
2010
(unit sqm)
Rosaco Tower Petro VN VP Bank Tower Sacom Bank Centec Asiana
Plaza
Financial Tower Vietcombank
Tower
2007 2008 2009 2010
CB Richard Ellis | Page 17
Client Logo
Goes Here
THE MARKET’S TIMING – LARGER BUILDINGS
Bao Viet
20,000 sqm
(owner
occupied)
VPBank
20,000 sqm
(12,000 sqm
for lease)
Times Square
31,000 sqm
HCMC Power
Head Office
20,000 sqm
(10,000 sqm
for lease)
Centec
25,000 sqm
Asiana Plaza
32,000 sqm
Vietcombank
77,000 sqm
Financial Tower
100,000 sqm
M&C Tower
35,000 sqm
2008 2009 2010
113,000 sqm 212,000 sqm
2010
2011
Gemadept
16,500 sqm
(10,000 sqm
for lease)
A & B
25,000 sqm
2010
76,500 sqm
(32,000 sqm
for lease)
CB Richard Ellis | Page 18
Client Logo
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RESIDENTIAL CONDO HCMC
Number of Condos and Projects launched year-by-year
0
3,000
6,000
9,000
12,000
C
o
n
d
o
s
0
10
20
30
40
50
P
r
o
j
e
c
t
s
Uni ts 648 0 0 0 150 0 0 124 1,234 3,418 7,644 10,37 11,47 7,270
Projects 1 0 0 0 1 0 0 1 3 16 27 42 33 9
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
CB Richard Ellis | Page 19
Client Logo
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MAP OF CONDO PROJECTS IN HCMC
CB Richard Ellis | Page 20
Client Logo
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RESIDENTIAL CONDO HCMC
Completed Condominium Units year-by-year
0
500
1000
1500
2000
2500
Over US$2,000 141 252
US$1,501 - US$2,000 526
US$1,001 - US$1,500 97 66 270 405
US$600 - US$1,000 798 124 1,110 1,965 1,330
Less US$600 552 1,594 881
1999 2003 2004 2005 2006 Q1/07
CB Richard Ellis | Page 21
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RESIDENTIAL CONDO HCMC
Average Se l l ing P r i ce Change of T ypical High-end Condo
P rojects in Dist r i c t 1
Indochina P ark
Tower
US$ 1800
Indochina P ark
Tower
US$ 1,500
The Lancaster
US$ 3,450
The Lancaster
US$ 2,050
Avalon
US$ 2,800
Avalon
US$ 2,089
Ho rizon
US$ 1,300Ho rizon
US 850
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2003 2004 2005 Q1/ 06 Q2/ 06 Q3/ 06 Q4/ 06 Q1/ 07
CB Richard Ellis | Page 22
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RESIDENTIAL CONDO HCMC
Average Se l l ing P r i ce Change of Typical High-end Condo
P rojects in Di str i ct 2 and Binh Thanh
R iver Garden
US$ 900
R iver Garden
US$ 1,400
Saigon P earl
US$ 1,100
Saigon P earl
US$ 1,500
The M ano r
US$ 2,200
The M ano r
US$ 1,000
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2003 2004 2005 Q1/ 06 Q2/ 06 Q3/ 06 Q4/ 06 Q1/ 07
CB Richard Ellis | Page 23
Client Logo
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RESIDENTIAL CONDO HCMC
Ratio between launched and sold units year-by-year
0
9000
18000
27000
36000
45000
0%
20%
40%
60%
80%
100%
Accumulation of
remaining units
648 798 922 3226 6284 12082 22755 36909
Acummulation of sold
units
0 72 100 708 2,609 6,913 12,810 19,517
Average ratio between
sold and available
0% 9% 11% 22% 42% 57% 56% 53%
1994 1998 2001 2002 2003 2004 2005 2006
CB Richard Ellis | Page 24
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RESIDENTIAL CONDO HCMC – FUTURE SUPPLY
Projects will be completed in 2007 – 2009
Central Garden-D.1 Hung Vuong Plaza-D.5 Cantavil-D.2 River Garden-D.2 Capitaland Vista-D.2 Ben Thanh Orient
Plaza-D.1
New Development year-by-year
0
3,000
6,000
9,000
12,000
0
10
20
30
40
50
Condo uni ts 10,152 11,081 10,995
Projects 44 33 12
2007 2008 2009
CB Richard Ellis | Page 25
Client Logo
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RESIDENTIAL CONDO HCMC
TRENDS:
9New money flow from stock market into property.
9Strong investment wave from Asia: Korea, Japan,
Singapore. Keen on buying projects already licensed and
under construction instead of leasing land, developing from the
beginning.
9Hot market with more money from foreign institutional
and individual investors activated by Land Law effective
from 1 Jul 06 and Property Trading Law from 1 Jan 07.
9With encouraging Government policies, more developers
investing in low income projects.
CB Richard Ellis | Page 26
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RESIDENTIAL CONDO HCMC
TRENDS:
9Price of low to mid end projects expected to be stable.
9Price of high end projects with good zoning and
infrastructure remain high.
9More buyers have real needs and there will not be as many
as speculators as previously.
9Demand forecasted to be increased 6-7% in a few years to
come partly thanks to loan flexibility of banks.
9Buyers become more and more savvy, so developer’s
brand plays a more and more important role.
CB Richard Ellis | Page 27
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RESIDENTIAL VILLA HCMC
Phu GIa – PMH town Thao Nguyen SG-D.9 Thu Duc Garden Home-TD Villa Riviera – D.2 An Phu Dong Villa – D.12
Price Trend of Phu Gia, Villa Riviera and Thu Duc Garden Home
(from launch to Q4/06)
US$1,000
30%
US$2,000
210%
90%
70%
50%
US$1,500
US$2,400
33%
20%
US$680
U$S700
3%0%
50%
100%
150%
200%
250%
2001 2002 2003 2004 2005 2006
Phu Gia - PMH town
(launched in 2001)
Villa Riviera - D.2
(launched in 2004)
Thu Duc Garden Home
(launched in 2005)
CB Richard Ellis | Page 28
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HCMC RESIDENTIAL FOR LEASE MARKET OVERVIEW
Ho Chi Minh City Serviced Apartments
Positives:
9 No Maintenance
9 Facilities – Gym, Pool
9 Security
9 Fully Furnished
Negatives:
9 Difficult Termination
9 Higher Rental Cost
9 Generic Appearance
9 Less Usable Area
Current Serviced Apar tments
0
40
80
120
160
200
D i
a m
o n
d P
l a z
a
S h
e r a
t o n
( O
c e
a n
P l
a c
e )
N o
r f o
l k
M a
n s
i o n
S e
d o
n a
S u
i t e
s
S o
m e
r s e
t C
h a
n c
e l l
o r
C
o u
r t
S o
m e
r s e
t H
C M
C
L a
n d
m a
r k
L T
T C
o u
r t
H B
T C
o u
r t
C i
t y
V i e
w
Units
0
10
20
30
40
50
Supply Average Rent ($US/sqm/mth)
CB Richard Ellis | Page 29
Client Logo
Goes Here
District 1 & 3
Highest demand for serviced apartments
Very limited supply, especially for International quality
projects. There are 7 grade A serviced apartment projects
provide over 500 units from 1 to 4 bedrooms.
Average occupancy rate is now 96% (both grade A and B)
with most marketable size of 1 & 2 bedrooms, from 50 – 80
sqm
The rent for most of the serviced apartments are up by 10 –
20%, from US$22 to US$31 per sqm per month in January
2006 to US$25 to US$35 in December 2006
Due to the limited supply and growing demand, rent are
expected to keep rising during 2007.
RESIDENTIAL FOR LEASE HCMC
CB Richard Ellis | Page 30
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RESIDENTIAL FOR LEASE HCMC
An Phu, An Khanh, District 2
Still an attractive area for tenants with family
Limited good quality villas and serviced
apartments
Few new developing projects in apartments and
gated compound (River View and River Garden)
Average rent of US$2,500 to 3,500 per month.
With a 15% - 20% increase in rental prices within
the past year.
CB Richard Ellis | Page 31
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RESIDENTIAL FOR LEASE HCMC – IN DISTRICT 2
$11$5,0004504
Nguyen U
Di
$4.50$9002002
Thao Dien
Villa
$6.25$2,5004004
Thao Dien
Compound
$9$3,3003503Le Van Mien
$12$7,0006005
Nguyen Van
Huong
Rent/SQMAsking
Rent/Month
SQMBedroomsPictureLocation
CB Richard Ellis | Page 32
Client Logo
Goes Here
RESIDENTIAL FOR LEASE HCMC - 2007 NEW SUPPLY
1,160
11,300
3,300
27,531
Total
sqm
10 – 12
11 - 20
30 - 38
21 - 32
Target Rent
$/sqm/mth
Unit
types
No of
Units
CompletionLocationProject
4-5 bdrs11January 2007
Saigon Queen Villa
Nguyen Van
Huong, An Phu,
District 2,
15 minutes to CBD
1-4 bdrs100February 2007
Green Hills
Lot 25, Quang
Trung Software
Park, District 12, 40
minutes to CBD
1-3 bdrs40 - 50February/ March
2007
The Lancaster
Le Thanh Ton
Street, District 1,
CBD
2-4 bdrs228
February/March
2007
Pasteur Court
Pasteur Street,
District 3, 5 minutes
to CBD
CB Richard Ellis | Page 33
Client Logo
Goes Here
An Phu Small SA
The Manor 2
Kumho Asiana Plaza Times Square
Saigon Riverview Apartments Saigon Pearl
RESIDENTIAL FOR LEASE HCMC - FUTURE PROJECTS
CB Richard Ellis | Page 34
Client Logo
Goes Here
VN STOCK MARKET
VN Index from 18 July 2000 to 27 February 2007
CB Richard Ellis | Page 35
Client Logo
Goes Here
VN STOCK MARKET
0
200
400
600
800
1000
2000 2007
VN index
28/7/2000:2 listed companies - VN Index: 100 – Daily turnover Avg. $45m
27/2/2007:107 listed companies & 2 funds- VN Index: 1167.36 - Market capitalisation:$15b
VN Index: increased by 9.5 times
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2000 2007
Market cap
Market cap: increased by 300 times
CB Richard Ellis | Page 36
Client Logo
Goes Here
100 RICHEST PEOPLE IN VIETNAM
(Till 3rd Jan 2007)
71,625,500MPCDeputy DirectorChu Thị Bình - Deputy Director5
71,625,500MPCMinh Phú Fisheries
Lê Văn Quang - Chairman &
General
Director
4
74,562,500FPT
FPT- Technology
Investment and
Development Co.
Bùi Quang Ngọc - Vice Chairman &
Deputy Director
3
106,625,000FPT
FPT- Technology
Investment and
Development Co.
Lê Quang Tiến – Vice Chairman &
Deputy Director2
147,125,000 FPT
FPT- Technology
Investment and
Development Co.
Trương Gia Bình – Chairman &
General Director
1
Value (US$)CodeListed companiesName Rank
CB Richard Ellis | Page 37
Client Logo
Goes Here
HCMC RETAIL MARKET
2004 RANK2005 RANK2006 RANKCOUNTRY
8910TURKEY
579CROATIA
458SLOVENIA
667LATVIA
--6CHILE
345CHINA
1134UKRAINE
783VIETNAM
122RUSSIA
211INDIA
Source: AT Kearny
Top 10 Countries for Retail Investment
CB Richard Ellis | Page 38
Client Logo
Goes Here
HCMC RETAIL MARKET
HCMC Shopping Centre Existing Supply
6,252
5,700
8,000
1,366
6,810
21,797
17,000
14,670
18,000
5,000
5,000
Saigon Centre
Dist. 1
Saigon Superbowl
Tan Binh
Diamond Plaza
Dist. 1
Lucky Plaza
Dist. 1
Zen Plaza
Dist. 1
Thuan Kieu Plaza
Dist. 5
Parkson
Dist. 1
Tax Plaza
Dist. 1
An Dong Plaza
Dist. 5
Saigon Square
Eden Mall
Dist. 1
1
9
9
6
1
9
9
9
2
0
0
0
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
6
(Source: CB Richard Ellis)
CB Richard Ellis | Page 39
Client Logo
Goes Here
HCMC RETAIL MARKET
AVERAGE OCCUPANCY & RENTAL RATES
OF HCMC CBD RETAIL CENTRES
0%
20%
40%
60%
80%
100%
%
$0
$30
$60
$90
$120
$150
CBD prime occupancy rate 100% 100% 100% 100% 98% 95% 95% 95% 94% 100% 100%
CBD prime average rents $32.40 $32.40 $32.40 $35.33 $36.67 $39.95 $43.03 $45.11 $49.21 $59.68 $80.00
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
CB Richard Ellis | Page 40
Client Logo
Goes Here
HCMC RETAIL MARKET
unit: US$/sqm/month
COMPAR ISON OF R ETAIL R ENTS IN CIT IE S IN SOUTH EAST AS IA
727
560
290
191
185
133
70
80
48
20
Hong Kong
Bangkok
S ingapore
Taipei
Shanghai
Beijing
Jakarta
Ho Chi Minh City
New Delhi
Manila
(Source: CBR E)
CB Richard Ellis | Page 41
Client Logo
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HCMC RETAIL MARKET
Source: CB Richard Ellis
Growth in prime retail rates in HCMC
from 2006 to 2007
140
170
Q1/2006 Q1/2007
*Note: Rents excluding S. C and VAT
unit:
US$/sqm/month
growth rate 21%
CB Richard Ellis | Page 42
Client Logo
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Eden Mall
106 Nguyen Hue St, Dist.1
Size: 5,000 sqm
Launch December 2006
Rents: $30 - $70 per sqm
Occupancy 90%
HCMC RETAIL MARKET – NEW RETAIL CENTRES
CB Richard Ellis | Page 43
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HCMC RETAIL MARKET – NEW RETAIL CENTRES
SAIGON SQUARE
3 Le Van Huu, Dist. 1
Launch January 2007
Size: 5,000 sqm
Rents: 66 - $100 per sqm
Occupancy 100%
CB Richard Ellis | Page 44
Client Logo
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HCMC RETAIL MARKET – FUTURE SUPPLY
HCMC Future Supply
1,280
4,300
15,000
33,000
2,560
12,367
11,882
6,880
8,292
30,000
Opera View
Dist. 1
Tan Da Court
Dist. 5
Saigon Paragon
Dist. 7
Hung Vuong Plaza
Dist. 5
Sailing Tower
Dist. 1
Times Square
Dist. 1
Happiness Square
Dist. 5
Kumho Asiana
Dist. 1
SJC Tower
Dist. 1
Saigon Pearl
Binh Thanh
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
(Sou rce : CBRE)
sqm
CB Richard Ellis | Page 45
Client Logo
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HCMC RETAIL MARKET – FUTURE SUPPLY
COMING NEXT IN EARLY 2007
OPERA VIEW – 161 – 167 Dong Khoi, Dist. 1
Retail GFA: 1,280 sqm
Rents: US$80 to US$130 per sqm
Occupancy: 100%
Major tenant: Louis Vuitton
CB Richard Ellis | Page 46
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HCMC RETAIL MARKET – FUTURE SUPPLY
COMING IN 2008
SAIGON PARAGON
Nguyen Luong Bang, Dist.7
Retail area: 7,984 sqm
Entertainment area: 7,016 sqm
CB Richard Ellis | Page 47
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HCMC RETAIL MARKET – FUTURE SUPPLY
HUNG VUONG PLAZA
Location: 126 Hung Vuong St. Dist 5.
Developer : M&C and Kinh Do
Mixed use development with 6 levels
of retail inc. cinema and 2 basement
parking.
Leasable Area : 17,000sqm
Opening : Q1/2008
Major tenants: Parkson and Megastar
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Hotel Market HCMC
416,785 TOTAL
83231,903 3 - star
18181,447 4 - star
344 103,435 5 – star
ROOMS
PER
HOTEL
HOTELSROOMSHOTEL
HOTELS FROM FIVE TO THREE STARS, 2006
(Source: CBRE)
No. of
Hotels
No. of
Rooms
57.50%
17.50%
25.00%
28.05%
21.33%
50.63%
5 – star 4 - star 3 - star
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Hotel Market HCMC
0.00
20.00
40.00
60.00
80.00
100.00
120.00
140.00
5 star 108.00 128.20
4 star 80.00 94.96
3 star 45.00 53.42
2005 2006(Est.)
AVERAGE ROOM RATE (US$), 2005-2006
Average % Increase from
2005
5 Star - 15.76%
4 Star - 15.75%
3 Star - 15.79%
D1 5 Star Hotel Rates on
average range from: $77 -
$165 per night
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Hotel Market HCMC
68.00%
70.00%
72.00%
74.00%
76.00%
78.00%
80.00%
82.00%
84.00%
5 star
4 star
3 star
5 star 77.00% 73.92%
4 star 81.50% 77.43%
3 star 82.50% 83.33%
2005 2006(Est.)
AVERAGE OCCUPANCY RATE 2005 -2006Est
Average Occupancy
growth rate +/-
5 Star - 3.08% -
4 Star - 4.