Phu Quoc Narrows Gap With Bali and Phuket
Skift Take
CoStar said Phu Quoc's hotel occupancy exceeded 90% in early 2026, closing the gap with Southeast Asian rivals Bali and Phuket. Plus, more hotel deal and development news.
Phu Quoc, Vietnam, has narrowed the gap with established markets such as Bali and Phuket so far in 2026. CoStar reported that room occupancy in Phu Quoc exceeded 90% in January and February 2026, compared to around 50% in the same period back in 2024. Bali recorded 60% occupancy in the first two months of 2026 and Phuket was at over 80%. CoStar said Da Nang maintained an occupancy rate of about 70% while the Nha Trang-Cam Ranh market recovered from below 50% to over 60% during the same period. RevPAR in Phu Quoc was below $50 in 2024, but in the first two months of this year, was at $160-$170. Bali faces signs of saturation, and Phuket continues to expand supply, while Phu Quoc remains in a phase where new developments are relatively controlled, while tourism products continue to be refreshed. Developments include upgrades to transport systems and new hospitality projects such as a large-scale hotel complex at Bai Dat Do (Ruby Beach) where multiple international hotel brands are ex
