Occupancy rate over 90%
According to the latest report from STR, a global hotel industry data and research specialist, part of CoStar Group, in January-February 2026, the occupancy rate in Phu Quoc reached over 90%, becoming the fastest recovering destination among regional resorts, compared to only 50% in the same period of 2024. Notably, Phu Quoc's 90% rate surpasses regional "resort capitals" like Bali, Indonesia (60%) and Phuket, Thailand (over 80%).
In the domestic landscape, Phu Quoc's growth momentum becomes even clearer when compared to major markets like Da Nang and Nha Trang - Cam Ranh cluster. Da Nang maintains a stable growth pace with a 70% occupancy rate thanks to its international tourist base and high-end segment. Meanwhile, Nha Trang and Cam Ranh recorded a significant leap from below 50% to over 60% room occupancy in 2026.
In the first 2 months of 2026, Phu Quoc tourism exploded
Specifically, the report indicates that Phu Quoc's revenue per room is increasing from below 50 USD (2024) to about 160-170 USD (2026). The gap between Phuket and Phu Quoc is narrowing rapidly, demonstrating that the Jade Island is transforming: not only competing on price but also on profitability thanks to diversification in segments, cost optimization, and better management.
This shows that while traditional markets are gradually returning to a stable trajectory and there is a strong shift of tourists to new destinations post-Covid-19, Phu Quoc is entering a new growth phase with significant potential and momentum driven by distinctive experiential products, especially the continuously invested night economy and large-scale entertainment ecosystem.
World-class experiences and shows: The "Customer Magnet"
One of the factors creating Phu Quoc's distinct momentum lies in the emergence of iconic tourism products, especially in South Phu Quoc, with tens of trillions of dong invested in entertainment tourism products.
Here, for the first time in Vietnam, an island destination boasts two large-scale shows with nightly fireworks displays, turning the sky and sea into part of the stage. Shows like "Kiss of the Sea" or "Symphony of the Sea" not only extend the duration of tourist stays but also create a reason for guests to return, a key factor in sustainably increasing room occupancy.
Notably, while Phu Quoc tourism used to "sleep early" in the past, Sunset Town is now reshaping the rhythm of nightlife, where tourists have a seamless journey from watching the sunset on the iconic bridge to bustling night streets filled with restaurants and a grand finale of fireworks. This shift has significantly contributed to increasing room occupancy rates, especially in the southern island resort segment.
One of the factors creating the distinct momentum of Phu Quoc lies in the appearance of iconic tourism products.
Not just recovering but redefining the game
The STR/CoStar report also points out a notable trend: Vietnam's resort destinations like Phu Quoc are gradually shifting the regional competitive balance. Compared to Bali or Phuket, Phu Quoc competes not only with its landscape but also with operational efficiency, running costs, and the speed of product innovation.
While Bali has entered a phase of saturated experiences, and Phuket faces pressure from a large supply, Phu Quoc is in its "sweet spot," where new supply is controlled, but products are continuously refreshed, creating strong appeal for both international and domestic customers.
Phu Quoc's growth momentum is forecast to continue to be strongly consolidated in the coming period, especially as the pearl island becomes the focus in preparation for APEC 2027.
Besides investing in air, sea, and road transport infrastructure and conference facilities, Sun Group's creation of a large-scale "hotel city" at Ruby Beach, with the influx of 13 world-leading hotel brands, not only supplements high-class accommodation supply but also shapes a new center for MICE tourism and luxury resorts.
Resort destinations in Vietnam, such as Phu Quoc, are gradually shifting the regional competitive balance.
Concurrently, the arrival of the international brand Rixos at Hon Thom this year will mark a significant step in elevating service standards, bringing Phu Quoc closer to the group of world-leading resort destinations. These projects not only solve the supply issue but also create "new reasons to visit," a key factor in maintaining long-term growth.
If previously Phu Quoc was considered a "rising star," then currently, the combination of room capacity growth, experience innovation, and large-scale infrastructure investment is helping Phu Quoc make a special mark, becoming a counterweight even to long-standing traditional destinations like Phuket or Bali.
