Mar 9, 2013

Hilton Worldwide Enters Myanmar

Hilton Worldwide today marked its entry into the Burmese market with the signing of a management agreement with LP Holding Co., Ltd to manage Hilton Yangon in Kyauktada Township, Yangon, Myanmar. The first Hilton Worldwide property in Myanmar, the 300-room Hilton Yangon will also be the first Hilton Hotels & Resorts branded hotel and 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 percent compared to the previous year. Yangon, in particular, is positioned to grow much faster than many other emerging market in Asia. Backed by a strong partner like LP Holding Co., Ltd, we are very confident that as the first internationally branded hotel in Yangon, Hilton Yangon will set the benchmark for quality hospitality experiences catering to both domestic and international travelers," said Andrew Clough, senior vice president, development, Middle East & Asia Pacific, Hilton Worldwide.

"Hilton Hotels & Resorts is a global leader of hospitality and Hilton Yangon represents another important new chapter for our brand's rapidly-growing collection in Asia Pacific. Given its prime location in downtown Yangon, this hotel will meet the needs of both corporate and leisure travelers in delivering the world-class hospitality synonymous with our brand and Hilton Worldwide," said Rob Palleschi, global head, Hilton Hotels & Resorts.

The 21-storey Hilton Yangon is 14.3 kilometers away from Yangon International Airport and is part of Centrepoint Towers, a mixed-use development which includes high-end retail boutiques and a premium office tower. Located at No. 65, the corner of Sule Pagoda Road and Merchant Street in the Kyauktada Township, the hotel is located opposite Yangon's iconic High Court building and the famous Independence Monument Park. As the one of the tallest commercial building in the city, hotel guests will enjoy impressive 365-degree views of greater Yangon and easy accessibility to the downtown Colonial quarter and business district of the city.

"Today's announcement represents our first partnership with Hilton Worldwide and combines the expertise of a truly global, award-winning hospitality company with strong local market expertise. 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 Richard Mayhew, Director, LP Holding Co., Ltd.

Hilton Yangon will offer one all-day dining restaurant, two specialty restaurants, a destination sky bar and a lobby lounge. Offering a total of 1,400 square meters of event space including a 850-square meter ballroom, the hotel will also have an Executive Floor, a business center, a fitness center, a pool, a spa and car park facilities.

Yangon boasts numerous tourism attractions such as the beautiful golden pagodas which can be found dotted throughout the city, the most famous of which is the Shwedagon Pagoda. Other key attractions include Kandawgyi Lake with its Royal Barge, numerous museums and well preserved examples of grand Colonial architecture. Following the lifting of economic and social sanctions on the country, a number of international airline carriers have introduced new routes into Yangon to cater for the rapid growth in demand for corporate travelers. Arrivals into Yangon are expected to remain strong and with new foreign investment laws passed in November 2012 aimed at bringing in foreign capital, the city is expected to generate high levels of growth across all industries especially in the areas of mining, energy, telecommunications, banking, real estate, legal, healthcare and hospitality.



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