The Ministry of Hotels and Tourism said in March that there were total of 960 hotels in Myanmar. The number of rooms has also increased to 37,482 with the addition of 21 new hotels.
The hotels are being constructed by local businesspeople and will be built in regions with particular tourist attractions.
Mandalay Region leads with over 300 hotels and the construction of hotels is also soaring in Yangon and Shan State, according to the ministry.
Hotels are getting much interest from local businesspeople but many are still negotiating with foreign investors, said Aung Zaw Win, director general for the ministry of hotels and tourism.
Foreign countries wanting to invest are Japan, Thailand and the UK, but the number of countries has decreased, Aung Zaw Win added.
By mid-2014, the number of hotels could reach up to more than 1,000 when hotels still under construction in Yangon, Mandalay and Shan State are due for completion, according to Aung Zaw Win.
Foreign investors have spent US$ 1.7 billion in 40 hotel projects and local investors have spent up to US$ 2 billion, according to ministry data.
source: Eleven Myanmar