Sep 9, 2015

Wyndham to Open $157-m Property in Myanmar

Wyndham Hotel Group announced that it is to expand its portfolio to Myanmar with the signing of a franchise agreement for a 260-room Wyndham Grand hotel in Yangon.

Owned by Asia Myanmar Shining Star Company, the five-star Wyndham Grand Yangon Royal Lake will be part of the mixed-use Kantharyar Centre Project at the southern fringe of Kandawgyi Lake.

The $157-million complex will include a residential building, serviced apartments, an office tower and a retail centre.

Wyndham Hotel Group’s presence in Southeast Asia and the Pacific Rim currently consists of more than 60 hotels already open under different brands of Wyndham such as Wyndham Hotels and Resorts, Ramada, Days Inn, Microtel Inn & Suites and TRYP. More than 60 properties are currently under development in the region.

The company also recently announced plans to expand in China with the opening of eight new Ramada hotels and three new-construction Wyndham properties over the next four years.

“With more than three million visitors in 2014, Myanmar is growing in popularity among business and leisure travellers, and we continue to be at the forefront of emerging markets,” said Barry Robinson, Wyndham Hotel Group South East Asia and Pacific Rim’s president and managing director.

“The country’s rich culture, political stability and recent tourism efforts, including the expansion of its e-Visa program and the construction of a new international airport, will continue to help draw more visitors, creating greater demand for high-quality hotel brands like Wyndham.”

Wyndham Grand Yangon Royal Lake will have a banquet hall, two multi-purpose conference rooms, a meeting room, a swimming pool, a gym, a spa and on-site international restaurants.

“We are proud to partner with Wyndham Hotel Group on this landmark project and bring the prestigious Wyndham Grand brand to Myanmar. We will invest around $70 million in the hotel. The ground work for Phase 1 of the development is complete and we anticipate the whole project will be finalized by 2017,” said Kyaw Khaing, a spokesperson of Asia Myanmar Shining Star Company.

Source: Myanmar Business Today