What it means for buyers

  • Price per key varies widely. On asking prices, the Son Tra hotel works out at about VND 3.4bn a room and the Hoang Dieu hotel at about VND 1.5bn a unit. The Hoang Dieu figure includes apartments and function space, so it is not a like-for-like comparison.
  • Tenure decides value. The auction site sits on commercial land that runs to 2062. Long-term residential land, common on smaller city-centre hotels, costs more but finances more easily.
  • The auction is the cleanest price signal. Its starting price has fallen from VND 225.2bn in August to VND 205.5bn in three rounds. The next result will show where institutional buyers value Da Nang hotel land.