Myanmar gradually becomes an ideal place for hotel investment owing to its fast paces in tourism. A brand new hotel chains will be accomplished before the end of 2017 by a renowned international company.
Yangon – Since the country opened for tourism in 2011, there are more and more tourists come to Myanmar to admire its magnificent Buddhist constructions rising along the country. Thus, the demand of accommodations increases quickly creating the great opportunities for business here. Soon, numerous hotels will operate in 2017.
Ever since the National League for Democracy party took charge of the country, 144 hotels have received their license for business running. As in the report of the World Travel and Tourism Council, 1.43 million jobs were created in 2015 by Burma’s tourism. The number is still expected to grow 1.3 percent in 2016.
The fast growth of hotels mainly occurs in the largest city of Myanmar – Yangon where the biggest hotel chains of Korea – Lotte company operate its first branch in this county. The hotel lies adjacent to the Inya lake containing 343 guest rooms and 315 apartments.
Also in 2017, GCP Hospitality will open its second lavish hotel – Hotel G in downtown Yangon beside the well- known The Strand. It promises to be the next central vibrant lifestyle of the successful hotel chains in Bangkok, Singapore and Hong Kong.
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Pan Pacific Hotel Group is the next company to open its hotel chains in Myanmar, starting in Yangon. Has long famous for the efforts in social responsibility, this Singapore based hotel corporation is one of the largest and most successful in Asia. This property will be situated in the Bogyoke Aung San market which will overlook to the one and only Shwedagon Pagoda.
Another hotel will be completed in the flamboyant hub of downtown Yangon before the end of 2017. That is Yangon Excelsior Hotel which is renovated from the heritage construction of Steels Brothers’ trading head quarter in the British colonials and then the Trade Corporation building of the government. The building will have 4 stories with 74 rooms bearing the elaborated architectural of Rangoon golden days.
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As the rising hotels’ demand in Burma, vice chairman of Myanmar tourism marketing Su Su Ti said: ‘There has been a surge in hotel investments by international brands in Myanmar since 2015 as the country holds the most potential tourist destination untapped in the region. We welcome quality hotel investments across the country to provide international standard accommodation and service. We also welcome healthy competitions in hotel industry to avoid over pricing due to shortage of hotel supply like in 2013-14. Although the growth rate has slowed down compared to the previous hype, Myanmar tourism industry has a very bright future prospect and hospitality infrastructure has to be ready for potential growth.’
Among the companies that have the investments in the hotel chains in Myanmar, the French AccorHotels Group is the most confident with the plan of accomplishing 5 new properties by 2019. Later in this year, they will open a Pullman Hotel in Mandalay at the new Mingalar Mandalay complex which is easily to reach to the tourist attractions of Mahamuni Pagoda and U Bein Bridge. The branch of this hotel is expected to complete in 2019 in Yangon.
In addition, only in this year, they are planning to operate 2 new hotels in the northeast of the country in Shan state and a new branch of the MGallery at Inle Lake. And in following year, they plan to operate an Ibis Styles hotel in Muse – the main trade point close to the Chinese border.
Moreover, this company has recently co – operated with the SC Capital Partners Group to rename the Micasa Hotel Apartments Yangon to Mercure Yangon Kaba Aye. The building has the location near the Shwedagon Pagoda which contains 143 apartments and 40 high – class rooms and planning to open to the tourists in 2017.
As the Myanmar tourism market continues to grow with the opening of plenty new hotel chains. Myanmar is ready to welcome a massive wave of tourists to come to explore.
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