Revenues of restaurants surge

The total revenue of the restaurant system in HCM City in the January-July period amounted to VND27.06 trillion, tripling that of the travel business and six times higher than that of the hotel business.

According to the HCM City Statistics Office, the restaurant revenue rose by 20.3 percent from last year’s first seven months.

Among the businesses of restaurant, hotel and travel, the travel business had the second highest revenue with VND9.893 trillion, but it posted the highest growth of up to 40.4 percent from the same period last year, mainly resulting from the number of international tourists travelling by cruise ship.

Meanwhile, the hotel business obtained VND4.584 trillion in revenue with a growth of only 10.3 percent.

Truong Vinh Tho, head of the Hotel Division under the HCM City Department of Culture, Sports and Tourism, said that the average occupancy rate in the first seven months of three- to five-star hotels in HCM City was 68 percent compared to 71 percent of the year-ago period. The room price of these hotels also dropped, he added.

“We do not manage all restaurants in HCM City but only manage restaurants of hotels. The overall operation of restaurants does not grow strongly, but it is still higher than the accommodation business,” he said.

There were over 2.04 million international tourist arrivals in HCM City in the January-July period, up 10 percent from the same period last year.

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Category: Business