Thu 13 Feb 2014
Filed under: Business / Trade,Naypyitaw,News
Yangon’s current stock of 9000 rooms is set to more than double in coming years, a regional government minister says.
While the city has 190 licensed hotels with more than 9000 rooms, the government has granted permission for about 250 hotels with more than 20,000 rooms, Yangon Region Minister for Hotels and Tourism U Soe Min said at a ceremony on February 8 to mark the first anniversary of the Myanmar Hoteliers Association (Yangon Zone).
“As tourist arrivals have increased, more hotels are needed and some hotels are expanding,” U Soe Min said. “Some [of the new projects have] already opened and some are under construction. The development of the hotel sector is helping to increase the country’s income.”
Hoteliers Association secretary U Pyae Phyo Tun, who is also general manager of Yangon’s Pho Sein Hotel, said the increase in applications to open hotels in Yangon has been driven by the local business community.
He said many Myanmar businesspeople are opening hotels with 50-60 rooms, which can be built relatively quickly. These hotels would be essential for Myanmar in 2014 because it is hosting hundreds of ASEAN meetings.
“Foreign investors weren’t interested in doing hotel projects for ASEAN,” he said. “Only local investors were interested to build small hotels and quickly finish them by the end of 2013.”
Among the new investors is Adventure Myanmar Tours & Incentive. A spokesperson said the company planned to invest US$56 million in a “five-star” hotel in Yangon and had received permission from Myanmar Investment Commission.
“We have also got permission from the government to build a high-standard hotel in Mandalay,” the spokesperson said.