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Yangon approves $238M in hotel, tourism investments

Yangon’s Regional Tourism Committee recently announced that investments totalling US$238 million and K119.63 billion were approved for the region’s hotels and tourism sector between May and August. In the same period, the committee approved investments for 33 new hotels and eight guest houses, approved 18 new hotels, 400 new travel agencies, and 200 tour guides. […]

Hilton Says Myanmar’s Bright Economic Outlook Bodes Well for New Yangon Hotel

Hotel operator Hilton offered an upbeat view of Myanmar’s economic prospects, particularly for its tourism sector, as it provided an update on its Hilton Times City hotel project at a press conference on Aug. 29. The 308-room hotel is due to open in 2021 in the compound of the Times City mixed-used complex, located between […]

Colliers Property Report – Upper Scale Hotel Yangon Q2 2019

  LAYING THE WAGER ON THE GAMBLING LAW: OPPORTUNITIES IN GAMING INDUSTRY   Summary & Recommendations No new completion were observed in Yangon’s upscale hotel segment during Q2 2019. Despite the surge of Chinese visitors, majority of upscale hotels continue to experience lower occupancy rates due to the downward trending number of western arrivals. Although […]

CBM extends WeChat Pay pilot phase by three months

The pilot phase for the use of the WeChat Pay service in Myanmar has been extended for a second three-month period, Central Bank of Myanmar (CBM) director general Daw Myint Myint Kyi said. The pilot phase began in February when the CBM approved the request of Paypb Co Ltd for the use of the WeChat […]

Thailand’s Centara marks entry into Myanmar hotel scene

Thai-based hotel operator Centara Hotels & Resorts and KMA Hotels Group, a subsidiary of Kaung Myanmar Aung (KMA) Group of Companies, yesterday signed an agreement to develop and renovate a total of six hotels in Myanmar. The project will see three existing KMA hotels in Inle, Naypyitaw and Taungoo undergo refurbishment prior to reopening and […]

Thai, Myanmar Hotel Operators Sign MOU for $63 Million Project KMA

Myanmar-owned KMA Hotel Group has signed a Memorandum of Understanding (MOU) with one of Thailand’s largest hotel and resort operators, the company has announced, to partner on a US$63 million (96.86 trillion kyat) investment in several new and existing hotels throughout Myanmar. Centara Hotel and Resort, a subsidiary of Thai conglomerate Central Group of Companies, […]

Colliers Property Report – Myanmar Hotel Quarterly Q4 2018

SUMMARY & RECOMMENDATIONS No new completions were observed in Yangon as of Q4 2018. Few select developments that were anticipated to open during the quarter have seen limited construction developments. In turn, increases on both occupancy and ADR levels transpired. Nonetheless, hotel investments in Yangon continue to surge as supported by the new government policies […]

Colliers Property Report: Yangon Hotel Quarterly Review Q2 2018

  Influx of Asian Tourists Spurred Demand Paul Ryan Cuevas Analyst | Research & Advisory As of H1 2018, Yangon witnessed a significant 6% YOY rise in the citywide occupancy rate. Resulting from the improvements in the overall tourist arrival figures coupled with the absence of project completions in Q2 2018, occupancy almost breached the […]

Nyaungshwe MPs reject proposal to construct hotel on floating island

TAUNGGYI- Four MPs including Inn Ethnic Affairs Minister Dr Tun Hlaing rejected a proposal to build hotel on the 90 acres wide of natural floating island belonging to the Department of Forestry in Mongthauk region, Nyaungshwe Township, Southern Shan State. The proposal was submitted by Myanmar Naing Groups. “We, all MPs from Nyaungshwe Township, denied […]

Grand Mercure Debuts in Myanmar

GRAND MERCURE announces the opening of its first property in Myanmar. One of Southeast Asia’s largest and most diverse countries, Myanmar remains one of the most mysterious and undiscovered destinations in the world. A land of breathtaking beauty and charm yet only recently emerging into the modern world. Myanmar has seen its emergence as a […]