Vietnam’s hospitality sector needs innovative products to attract young domestic and international travelers, according to a report by property consultancy firm Savills. This could include poshtels, entertainment-integrated complexes, limited-service accommodations, and co-living and co-working spaces. Savills also highlighted a growing trend for wellness-related offerings such as yoga and meditation retreats or nature-immersed resorts. Vietnam has seen remarkable growth in the past decade, with international travelers increasing by 16.9% annually between 2009 and 2019. The pandemic has interrupted this strong growth, and the country needs a 20% to 30% growth in annual demand to keep pace with new hotel openings. Despite the challenges, the report notes that there is still interest from foreign investors in the right products, such as beach villas and condominiums, though developers must ensure a greater emphasis on quality and operations rather than development scale.