YANGON, MYANMAR and MCLEAN, USA, 7 March 2013: Hilton Worldwide is
the first US hotel chain to conclude a management contract in Myanmar
following the easing of sanctions last year.
The chain announced Wednesday that it had signed a management
agreement with LP Holding Company to manage Hilton Yangon in the city’s
Kyauktada township.
The 300-room Hilton Yangon will also be the first Hilton Hotels &
Resorts branded hotel in the country. Under construction it is
scheduled to open in 2014.
“This agreement is a significant milestone for us as it represents
both Hilton Worldwide’s and the Hilton brand’s entry into Myanmar.
Following the social and economic reforms the country has made over the
past year, Myanmar has seen visitor arrivals grow by 45.1% compared to
the previous year,” said Hilton Worldwide senior vice president
development Middle East & Asia Pacific, Andrew Clough.
Another, US hotel group, Best Western, is close to signing a deal on a
hotel in Myanmar but a spokesperson for the Asia Pacific office said it
was too early to give details or confirm the deal, other than to say
negotiations are on-going.
Hilton believes Yangon is positioned to grow much faster than many
other emerging city hotel markets in Asia, mainly on the back of
business travel as corporations seek investment opportunities .
It’s local partner, LP Holding Company is building the 21-storey
hotel 14.3 km from Yangon International Airport as part of the
Centrepoint Towers, a mixed-use development which includes retail
boutiques and a premium office tower.
The hotel property is located opposite Yangon’s High Court building and the famous Independence Monument Park.
It will be one of the tallest commercial buildings
in the city offering, impressive 365-degree views of greater Yangon and
hints of the impending real estate boom that will turn the low-rise
almost garden-style environment of Yangon into a high rise mass of
concrete and glass.
“Myanmar, and Yangon in particular, is one of the most sought after
destinations in Southeast Asia since the United States and United
Kingdom lifted sanctions. Given the lack of internationally-branded,
quality rooms in the market, Hilton Yangon is in a great position to
take advantage of this undersupplied yet booming market,” said, LP
Holding Co Ltd director Richard Mayhew.
Following the lifting of sanctions international airlines have
introduced new routes to Yangon to meet the demand in business travel.
source: TTR Weekly
http://www.ttrweekly.com/site/2013/03/hilton-first-in-myanmar/
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