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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 […]

Great Hor Kham expands into hydropower, prepares for YSX listing

U Sai Ohn Myint, chair of the board of directors of Great Hor Kham Public Company, which will list on the Yangon Stock Exchange this year, isn’t too worried about trading volumes on the local bourse, which have all but collapsed since opening for business in early 2016. “I think investors will be able to […]

Myanmar stresses importance of rule of law for national development

YANGON, March 12 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has stressed the importance of rule of law and its effect on national development, calling for enforcing rule of law to achieve peace for development. Addressing the Conference on Justice Sector Coordinating for Rule of Law in the capital of Nay Pyi Taw, […]