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Vietnam's hotel market is running ahead of its supply. In the year to May 2026, room demand rose 14.1% while room supply grew just 2.8%, according to CoStar's national report. Occupancy reached 63.9% and average daily rate US124, against58.4% and about US111 for the whole of 2025. That gap explains why owners and brands are signing deals at pace. It also explains the main risk: the rooms now being...