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Myanmar Hotel Scene Prepping for Major Growth

Where: Myanmar
February 11, 2014 at 12:02 PM | by | Comments (0)

As our bro Jaunted noted last week in his coverage of the state of Southeast Asian tourism, Myanmar is growing at an incredible rate after opening its doors to tourists a few years ago. Seven million tourists are expected in 2020, up from only 300,000 in 2010. In 2013, the number of visitors went up an astonishing 93%, from 1.3 million in 2012 to 2.4 in 2013.

That is absolutely incredible growth, but a question quickly arises: Does the infrastructure exist to support all those visitors? The answer currently is no, but the country is working to ensure they have enough beds.

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]

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