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South Korean investors eye Asean tourism industry

SOUTH KOREAN investors are interested in expanding their investment in the tourism industry throughout the Asean bloc due to strong interest of international tourists in the region. For example, Daewoo Amara Co Ltd has expanded its initial 2013 investment in the Lotte Hotel Yangon, said CEO Lim Seon Kyu. The joint venture between the Korean […]

Collier Property Report – Yangon Upper Scale Hotel Q3 2017

Alternative Strategies to Counter Headwinds Market competition is stiff amid the recent decline in total foreign arrivals in Yangon but shows promise with an increase in foreign business travellers. While supply is set to rise substantially over the next few years, we expect average daily rates to trend downwards. Upper-scale hotels therefore need alternative solutions […]

Lotte Hotel Yangon to be open on commissioned operation by Lotte resorts affiliate

Lotte Hotel Yangon, to be operated on commission by Lotte Hotel & Resorts, will open later this week as the company’s eighth overseas chain, officials said Sunday. South Korean retail giant Lotte will manage the new hotel for 20 years in contract with Daewoo Amara, in what will be the first five-star accommodation facility it […]

Collier Property Report: Yangon Upper Scale Hotel Snapshot 1Q2017

Supply As of the first quarter of the year, the total upper-scale hotel stock in Yangon remained at around 3,800 rooms. The growth of supply in the upper-scale hotel market appears to have temporarily slowed down with no new hotel developments being completed during Q1 2017. This comes after only a single upper-scale hotel, Melia […]