Just returned from Saigon. The Sheraton (and Hyatt for that matter) still seem extremely over-priced for the market, with average daily rates of $225-250 USD per night. While other prices around Saigon have moderated within the last several months, these two hotels continue to outprice all of the competition. The Caravelle and the Legend at least are running some promotional specials to maintain some activity.
International brand names do command a huge premium in Vietnam, or at least thats what the Sheraton (and Hyatt) management seem to still believe ...