Peninsula chain adds carefully chosen links in Myanmar, elsewhere

As it expands into Myanmar and Turkey, the operator of the Peninsula hotel chain is sticking with its signature formula of opening in the best of the best locations.

The Peninsula Yangon will form a key part of a broader redevelopment project around the historic Yangon Central Railway Station. The headquarters of the old Burma Railways — which carries traces of British rule — will be converted into the hotel. The parent company, The Hongkong and Shanghai Hotels, partnering with local player Yoma Strategic Holdings, will invest some $100 million.

This will be the first Peninsula in an emerging economy that is just starting to open up to the world. It is likely to become a landmark in Myanmar’s largest city, where a surge in international business travelers has led to a shortage of accommodations.

Big three Hong Kong, with its unique cultural heritage stemming from a century and a half of British rule, stands out in Asia for having spawned multiple luxury hotel groups.

The Hongkong and Shanghai Hotels is among the best-known three. The other two are Shangri-La Asia, led by Chinese business magnate Robert Kuok, and Mandarin Oriental International, run by the Jardine Matheson group, which has British roots.

The Peninsula chain spans 10 cities in Asia, Europe and the U.S. In terms of scale, it is overshadowed by Shangri-La Asia’s 79 hotels and Mandarin Oriental’s 29. But it boasts far higher revenue per guest room, an industry barometer that factors in occupancy rates and prices per room.

Source: Nikkei Asian Review

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