Singapore-listed Memories Group buys Myanmar’s Kayah Resort

Myanmar-based tourism-focused company Memories Group is acquiring the 26-key Kayah Resort in Myanmar’s Loikaw from Wa Minn Group of Companies and Kun Naung Myint Wai for S$2.9 million (US$2.2 million), an 11-times multiplier on the hotel’s forecasted average operating profit from FY2019 to FY2021. Kayah Resort is a 26-key boutique hotel located in Loikaw, Kayah […]

Memories Group expands Myanmar tourism portfolio by acquisition of Kayah Resort

Kayah Resort located in Loikaw, Kayah State, is a 26-key boutique hotel set to be repositioned as an upscale resort under Memories Group’s Keinnara brand The deal is the second acquisition for the Group since its listing on SGX-Catalist in January 2018 The acquisition will be funded by cash and issuance of new shares The […]