The number of star-rated hotels, motels and guesthouses in Myanmar has reached 923, with more than 300 guesthouses in operation by the end of last year, according to the Ministry of Hotels and Tourism.
The ministry said there are six five-star hotels, 17 four-star hotels, 83 three-star hotels, 116 two-star hotels and 102 one-star hotels operating in the country. Ministry figures show that, among the 923 hotels, motels and guesthouses operating in 52 townships across the country, the largest number (232) are located in Yangon City.
Most star-rated hotels are owned by foreign business people, while local investors run most of the guesthouses, as well as some hotels and motels, the ministry said.
Investment in hotel sector rose to US$ 2 billion (Ks 1.96 trillion) last year, with a continuous flow of investment from Thailand and Singapore. The United Arab Emirates, which is famous for its tourism development, also made some investments in the country, the ministry said.
According to official data, Singapore’s investment reached US$ 880 million in Myanmar’s tourism sector by the end of last year, while Thailand invested nearly US$ 250 million.
Myanmar made record-breaking earnings from the tourism sector last year, at US$ 926 million, which was a record high since 2010, according to the ministry.
Source: ELEVEN Myanmar