Tourism Pro: ‘What We Need Is Stability’

Burma expected to receive at least five million tourists in 2015, but so far there have only been about two million arrivals. This week the Irrawaddy spoke with Aung Myat Kyaw, chairman of the Union of Myanmar Travel Association, about tourism prospects for this year. Estimates have placed tourist figures for this year around five […]

Upper Scale Hotel Market in Yangon 4Q, 2014

Subscribe to our Myanmar Property Mailing List and get notified immediately whenever we have a new report Research & Forecast Report Yangon | Upper Scale Hotel Market 4Q 2014 Planned influx of foreign operators as tourism sector continues to grow The number of upper-scale hotel rooms in Yangon is expected to grow significantly as over […]

Myanmar targets 4.5m tourists in 2015

The Ministry of Hotels and Tourism has set an ambitious target, aiming to draw 4.5 million foreign visitors this year. The visitors are expected to spend US$2 billion in the country. According to Myo Win Nyunt, a director, the ministry has been busy enlarging travel zones and making other infrastructure improvement to help tourists. “The […]

31 foreign hotels get permits

According to the Ministry of Hotels and Tourism, 31 foreign investment hotels have been permitted to open in six regions, including Bagan and Mandalay. Twenty hotels with a total of 3,047 rooms are allowed to open in Yangon, four hotels with 660 rooms in Mandalay and one with 127 rooms in Bagan. Two foreign investment […]

Tourism Development Bank to be founded to support Myanmar’s tourism sector

As Myanmar’s tourism sector has grown with the rapid influx of new tourists in recent years, the need for capital among locals who hope enter the sector has jumped sharply. To respond to this need, the Tourism Development Bank is slated to be opened to support hotels, tourism companies and local businesses, said Tin Tun […]

Myanmar tourism to earn US$900 million in 2014

Myanmar has seen a five-fold increase in tourism income over the last decade with the sector pulling in US$905 million in 2014, according to a report on the sector, released on November 30 from the Ministry of Hotels and Tourism. The country brought in US$171 million in 2004 in comparison with US$905 million in 2014, […]

Investment in hospitality sector soars

As of October 2014, there are 1,076 hotels throughout Myanmar, and two-thirds of them are in Yangon, Mandalay and Shan State, according to Ministry of Hotels and Tourism. Mandalay Region has the largest share with 329 hotels, followed by Yangon with 279 and Shan State, 200. Types of hotels in Myanmar vary. Some are funded […]

Project Phase 2 of Sedona Hotel to be finished by 2016

The Project Phase 2 of Sedona Hotel (Yangon) which is a 29-storied hotel is slated to finish in 2016, according to Singapore-based Keppel Corporation. The project is being implemented in the compound of Sedona Hotel located on the corner of Kabaraye Phaya Road and Setmu 1 Road, Yankin Township under the Foreign Investment Law. The […]

Tourism sector sees a peak

Foreign investment in tourism sector recorded over US$2 billion with 31 companies granted licences to construct hotels across the country mostly in Yangon, Mandalay, Bagan, Kawthoung, Techilek and Myeik, according to Ministry of Hotel And Tourism. Yangon has two-thirds of the number and followed by Mandalay and other minor tour destinations. Foreign investment comes directly […]

Vietnamese investment surges, sees room for growth in hotels

Vietnam is the ninth largest investor of the 36 countries with investment in the country, with US$513 million invested in seven projects as of the end of April, according to a June 26 forum linking businesses between the two countries. Bilateral trade is also surging, the forum was told. During the first four months of […]