Wyndham property to greet guests in Yangon by 2017

WYNDHAM Worldwide Hotel Group has officially entered Myanmar following the inking of an MoU early this month with Asia Myanmar Shining Star Company, a joint company of Yangon-based Asia Myanmar Consortium Development Company and Hong Kong-based Shining Star Investment Company.

Under the agreement, the five-star Wyndham Grand Yangon Royal Lake Hotel will be part of the US$157 million mixed-use Kantharyar Centre Project at the southern fringe of Kandawgyi Lake, said Kyaw Khaing, managing director of Asia Myanmar Consortium Development Company.

Apart from the 258-room hotel, the project also includes a 132-room residence tower, 168-room office tower, serviced apartments and retail centre.

Wyndham Worldwide will be operating the hotel as well as the serviced apartments, said Kyaw Khaing.

He added: “We believe in the management experience of Wyndham Worldwide Hotel Group. We will invest about US$70 million in the hotel. So far, the ground work for Phase 1 is completed and we hope to complete the whole project by 2017.”

Phase 1 includes the completion of the office tower, Phase 2 will include the retail centre and serviced apartments, and Phase 3 will include the hotel and residence tower, he revealed.

Source: TTG ASIA

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