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Glamping arrives in Mergui Archipelago

It’s a case of ‘take only photos and memories, leave only footprints’ at the newest five-star resort in the remote Mergui Archipelago, off the coast of southern Myanmar and Thailand. With its opening listed as among the most highly anticipated by luxury lifestyle Robb Report and Luxury Travel magazine, Awei Pila (aweipila.com) received its first […]

Balloons Over Bagan soars to new state in Myanmar

Balloons Over Bagan, under Myanmar-based Memories Group, has launched a new hot-air balloon flight in Kayah State. Hot-air balloon rides in Loikaw take off at sunrise on a daily basis throughout the year and can carry six to eight passengers per flight. Air time lasts one to two hours, and balloons will reach a maximum […]

Memories bets on tourist boom in Myanmar

ONE of Myanmar’s most well-known tycoons, and dubbed “Mr Clean” for his business dealings, Serge Pun finds magic in creating something from nothing. “I love the challenge of building something from scratch, like taking a barren tract of land, and sculpting it into a sprawling golf course or a beautiful residential estate,” said the executive […]

Hotel expansion continues in Yangon

More hotels are on the way in Myanmar’s commercial capital, Yangon, despite a sluggish tourism performance over the last two years due to the on-going Rohingya crisis. Developers at the luxury end of the market appear undeterred by the drop in European tourists believing business and luxury travel segments will continue to grow. But tour […]

Memories Group acquires two Myanmar hotels, island development rights for US$40.7m

MYANMAR-based tourism firm Memories Group, in its first earnings report since its Catalist debut in January, posted on Wednesday a net loss of US$1.7 million for the three months ended June 30, widening from US$698,000 in the year-ago period. A spin-off of mainboard-listed Yoma Strategic Holdings’ tourism-related businesses, the company also announced it had acquired […]

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 makes first acquisition in Myeik as tourist interest rises

Mr Serge Pun, executive chairman of Singapore-listed Memories Group, has bought luxury yachting business Burma Boating in Myeik, Tanintharyi Region, for K1.3 billion from Tint Tint Travel and Tours Company and Freepier. It is the first acquisition for Memories Group since the company listed on the Singapore Exchange in January and marks the first step […]

Yoma Strategic posts strong Q3 results, shares dip

Yoma Strategic Holdings, which does business in Yangon but is listed in Singapore, on Tuesday released its financial statements for the nine months ended December 31, 2017. The company drew revenues amounting to S$82.9 million for the period, which is up 24.3 percent over the same period last year. Owing to the disposal of its […]