Marriott seeks investment in Myanmar

Hotel News - 06/06/2013

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US-based hotel conglomerate Marriott is looking to expand its business into Myanmar.

Bloomberg Businessweek reported at the weekend that the international brand is amid negotiations with officials in Yangon and expects to finalise a contract for its first Myanmar property within the next six months.

Marriott’s vice president and managing director of Asia-Pacific operations Simon Cooper said in an interview that the firm’s first property in the Southeast Asian nation would most likely be a Courtyard or Marriott hotel. He went on to add that the move comes as the President Thein Sein continues to relax regulations whilst opening up the country’s long-isolated economy up to international investment.

The news comes as the hotel industry continues to blossom in Myanmar; Best Western International Hotel Groups now operates more than 808 guest rooms in the country and foreign investment continues to grow. Singapore is currently the largest investor, although operators from Hong Kong, Thailand, Japan, Malaysia and Vietnam have recently launched new properties in Myanmar, according to reports.

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