US, EU step into Myanmar hotel industry

Sedona Hotel Yangon: Shortage of hotel rooms has pushed up prices in Myanmar
Sedona Hotel Yangon: Shortage of hotel rooms has pushed up prices in Myanmar

The Myanmar hotel industry has caught the eye of companies from the US and the EU, who plan to invest in the country from the first time, Director Hlaing Oo of the Foreign Investment Department under the Ministry of Hotels and Tourism said in Eleven Myanmar.

A growing curiosity for the former pariah nation is expected to create a spike in tourism arrivals, with over 1.6 million tourists visiting Myanmar in 2012, up from around 810,000 visitors in 2011.

The announcement of US and EU interest, namely from Switzerland and Germany, comes after the proposed establishment of hotel zones in the Naypyidaw, Yangon, Bagan and Inlay regions.

Besides investors from the US and EU, businessmen from Japan and Malaysia have also expressed interest, Hlaing Oo said.

Myanmar currently has 30-foreign owned hotels currently in operation providing over 5,000 rooms, a volume that is projected to fall short to meet the growing demand of incoming visitors to the Southeast Asian nation.Counting all boarding rooms and guesthouses, it is estimated that the country has a total of over 28,000 rooms.

Five foreign-owned hotels are still under construction, and 1,145 more rooms will open after completion.

Tourist arrivals from China, Japan, Malaysia, South Korea and Thailand are the highest, according to the statistics of Ministry of Hotel and Tourism.

 



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[caption id="attachment_20037" align="alignleft" width="150"] Sedona Hotel Yangon: Shortage of hotel rooms has pushed up prices in Myanmar[/caption] The Myanmar hotel industry has caught the eye of companies from the US and the EU, who plan to invest in the country from the first time, Director Hlaing Oo of the Foreign Investment Department under the Ministry of Hotels and Tourism said in Eleven Myanmar. A growing curiosity for the former pariah nation is expected to create a spike in tourism arrivals, with over 1.6 million tourists visiting Myanmar in 2012, up from around 810,000 visitors in 2011. The announcement of US...

Sedona Hotel Yangon: Shortage of hotel rooms has pushed up prices in Myanmar
Sedona Hotel Yangon: Shortage of hotel rooms has pushed up prices in Myanmar

The Myanmar hotel industry has caught the eye of companies from the US and the EU, who plan to invest in the country from the first time, Director Hlaing Oo of the Foreign Investment Department under the Ministry of Hotels and Tourism said in Eleven Myanmar.

A growing curiosity for the former pariah nation is expected to create a spike in tourism arrivals, with over 1.6 million tourists visiting Myanmar in 2012, up from around 810,000 visitors in 2011.

The announcement of US and EU interest, namely from Switzerland and Germany, comes after the proposed establishment of hotel zones in the Naypyidaw, Yangon, Bagan and Inlay regions.

Besides investors from the US and EU, businessmen from Japan and Malaysia have also expressed interest, Hlaing Oo said.

Myanmar currently has 30-foreign owned hotels currently in operation providing over 5,000 rooms, a volume that is projected to fall short to meet the growing demand of incoming visitors to the Southeast Asian nation.Counting all boarding rooms and guesthouses, it is estimated that the country has a total of over 28,000 rooms.

Five foreign-owned hotels are still under construction, and 1,145 more rooms will open after completion.

Tourist arrivals from China, Japan, Malaysia, South Korea and Thailand are the highest, according to the statistics of Ministry of Hotel and Tourism.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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