Many hotels in HCM City cut room rates in the first week of May after occupancy at many high-end hotels plunged during the same period last year.

Majestic Hotel currently quotes at US$145 per night against $170 normally.

Another luxury hotel on Dong Khoi Street slashed rates from $198 and $170 to $163 and $139, respectively. In areas farther from downtown, it only costs $83 on average even at upmarket hotels.-VNS