Saturday, October 22, 2016
The Myanmar Times
The Myanmar Times

New hotel giants eye Myanmar

The big hotel chains are moving in on Myanmar.

Hilton, Accor and Best Western are all eyeing partners and locations in Yangon, Nay Pyi Taw, Mandalay, Bagan and other locations as the country continues to open up to the world.

On March 7, Hilton Worldwide signed an agreement with LP Holdings to manage the Hilton Yangon in Kyauktada township, the brand’s first-ever property in the country.

The 300-room Hilton Yangon is scheduled to open in 2014 as part of Centrepoint Towers, a mixed-use development, which includes high-end retail boutiques and offices.

Accor Hospitality, based in France, is in negotiation with the Max Myanmar Group of Companies to manage a new five-star hotel in Yangon known as Pyay Tower, on Pyay Road and owned by Max Myanmar.

The hotel will have a total of 366 rooms. Best Western said it had been had been discussing franchising and ownership options with potential investors.

“After sanctions were lifted, after Hillary Clinton and President Obama visited, that gave us confidence in the market. There is tremendous opportunity here, and a lot of foreign direct investment,” said Mr Akarapong Sukjit, a senior manager based in Thailand.

He said the company was meeting with many local firms with a view to partnership.

“We’ve had many meeting with many local firms in the past few days. Some will be franchised and some will be managed. There are many places we interested in Yangon, Nay Pyi Taw, Mandalay, Kalaw, Bagan, and other key destinations,” he added.