Many offers to sell coastal hotels in Da Nang have appeared on real estate forums these days. Most of them are located in districts Son Tra and Ngu Hanh Son. A hotel put up on sale On just one real estate website on February 22 many ads were listed. A 4-star hotel on Vo Nguyen Giap street, 600 square meters, with 19 stories, 125 rooms and 2 conference rooms is offered at VND440 billion. Hotels on the major streets of Ha Bong, Tran Bach Dang, Ho Nghinh, Vo Nguyen Giap and Ho Xuan Huong are offered at tens or hundreds of billions of dong. Hoang Lam, the owner of a hotel on Tran Bach Dang street, said accommodation service providers have been hit hard by Covid-19. “We have been struggling to survive by cutting costs. However, as capital is getting exhausted, hotel owners have to liquidate assets to pay bank debts,” he said. “Selling hotels is unavoidable as there is no source of revenue, and the operation cost is high,” he said. Do Van Hien from Dana Hotel, a broker, … [Read more...] about Unable to cover expenses during Covid-19, owners sell hotels at cheap prices