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Eden Group to invest US$100 million in two more Hilton hotels

DOMESTIC conglomerate Eden Group will invest approximately US$100 million in two Hilton hotels in Bagan and Inle Lake, U Chit Khine, chair of Eden group, told The Myanmar Times. The two hotels will be developed despite the lacklustre performance of Hilton Nay Pyi Taw.

When open in 2019 and 2020, respectively, Hilton Bagan and Hilton Inle Lake will be the fourth and fifth Hilton hotels in Myanmar.

Hilton Worldwide, a Virginia-headquartered American hospitality multinational, has been in partnership with Eden Group in Myanmar since 2014.

There are currently two Hilton hotels, Hilton Nay Pyi Taw and Hilton Ngapali Resort and Spa, which are already in operation.

“Hilton Ngapali, without doubt, is a great success. It is located in the best beaches in the country where the market of travellers already exists,” said U Chit Khine.

“However, Hilton Nay Pyi Taw is a project in which we are still trying to achieve success. Currently we haven’t made any profits from Hilton Nay Pyi Taw,” U Chit Khine said.

Eden Group will launch its third Hilton hotel in Myanmar, Hilton Mandalay, in November.

Previously the Sedona Hotel Mandalay owned by Singapore property developer Keppel Land, Hilton Mandalay will occupy a prime location directly opposite the Mandalay Palace.

Keppel Land first opened its Sedona Hotel in Mandalay back in 1997, four years after it launched Sedona in Yangon. Last year, it sold the Mandalay property to Eden Group, one of the Myanmar’s largest conglomerates, for US$41 million.

“The reason we intend to open Hilton Mandalay in the location of the former Sedona Hotel Mandalay is because we want to be at the right place, a place owned by our own people and not by foreigners,” U Chit Khin said.

Eden Group’s move to expand comes just as tourist arrivals to key states and regions in Myanmar are rising. According to data from the Ministry of Hotel and Tourism, the number of foreign visitors arriving in the country increased 23 percent between April and end of July, compared to the same period last year.

It also comes alongside a string of other hotel openings in Myanmar. CPG Hospitality Management opened Hotel G Yangon on September 7, just a week after South Korea’s Lotte Hotel opened its doors in Yangon on September 1.

French group AccorHotels and Thailand-based LP Holding will open two hotels this year and one more in 2020. The two companies plan to open the Mercure Mandalay Hill Resort and Pullman Yangon Centrepoint in2017. Meanwhile, Mandalay Hill Resort MGallery by Sofitel is slated to open in 2020.

A Japan-led consortium will also open Japan’s Hotel Okura in Yangon, near Shwedagon Pagoda, in 2020.

Source: Myanmar Times

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