Thursday, 3 July 2014

Myanmar tackles hotel shortage

YANGON, 25 June 2014: Myanmar’s Ministry of Hotels and Tourism claims the shortage of hotel rooms is easing as more hotels are due to open by 2015.

Officially, the country has six five-star, 17 four-star, 83 three-star, 116 two-star and 102 one-star hotels as well as ministry-approved 599 hotels, motels and inns.

The combined capacity is 38,722 rooms, but still some distance off to meet the growing holiday travel demand.

However, several new hotels are in the development pipeline some involving foreign investment. About 1,000 more rooms should come on line by 2015.

As of May, tourist arrivals reached 1.2 million which is inline with targets that suggest tourist arrivals will exceed 3 million this year.

More than 70% of all arrivals are from Asia, with Thailand the leading supplier followed by China.

Nay Pyi Taw, Mandalay, Bagan and Inlay regions have seen an influx of tourists and this is encouraging foreign companies to invest in the hotel sector, first in Yangon where development is mainly in the five- and four-star category, led by Singaporean investors.

Myanmar’s hotel and tourism industry is fifth among the top sectors that attract the most foreign investment. Others are energy, oil and gas, manufacturing and mining.

source: TTR Weekly
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