Myanmar Welcoming More Hotel Investments From International Market

Many have heard of the hype that occurred in Myanmar when it announced that they are opening their borders once more to tourists but the tourism in the country has evidently slowed down after the hype has settled down. The hype brought about construction boom in the country such as a hotel near Yangon International Airport which is a good accommodation option for many tourists. According to MTM or Myanmar Tourism Marketing, the future is looking good for Myanmar as there are a number of international hotel brands that are coming to invest in the country.

In a statement made by the vice chairman of Myanmar Tourism Marketing, Su Su Tin, they have witnessed an increase in the number of hotel investments in the country coming from the international market since the start of 215. This is due to the fact that the country of Myanmar still holds a lot of untapped potential when it comes to tourism.

In a data released by the World Travel and Tourism Council, the tourism industry of Myanmar has brought about 1.4 million employments in the year 2015 alone and they are expecting an increase of 1.3 per cent when the data for 2016 is released.

Ever since the new government of the country has reigned in, they have issued around 144 licenses for hotels to be constructed all over Myanmar.

This coming September, the Lotte Hotels from South Korea will be launching its first branch in Myanmar which will be located adjacent to Yangon’s Inya Lake. They will offer 343 rooms for guests while they will also provide 315 units of serviced apartments.

There are many other hotels that are expected to open within the year such as the Hotel G Yangon developed by GCP Hospitality which is the same owner of the Strand Hotel that is located in the downtown area of Yangon. They will also be welcoming a five-star hotel downtown called Yangon Excelsior Hotel with 74 rooms in the same site of the heritage building. There are is also the hotel near Yangon International Airport called Micasa Hotel Apartments Yangon which is planning to undergo rebranding according to developer AccorHotels.

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