It was recently announced by the Myanmar Investment Commission that Adventure Myanmar Tours & Incentives Company will throw down $46 million to build hotels and accompanying infrastructure on about 7 acres of land at the former National Defense College in Yagon. A five-star hotel, a shopping mall, a business center, and apartments will all be built. Last year, a separate company, Shwe Taing Development Company, received approval to invest $101 million on a hotel, apartments, and shopping center in the same complex. Finally, we reported a year ago that a new Peninsula property would be built in Yagon, which happens to be just down the street from the National Defense College.
We'll definitely keep you in the loop regarding these specific projects and others that pop up as they begin to take shape, but the main takeaway here is that Myanmar has quickly become a sought-after destination, one that must act now if it hopes to sustain its current growth rate and give guests a good experience (they wouldn't want to give first time visitors the Sochi experience, you know?). We look forward to seeing what hotel brands, both foreign and domestic, decide to get in on a piece of the pie.
[Photo: Herald Sun]