Melia Hotels International Plans Property in Myanmar
Meliá Hotels International has added an additional property to its Asia Pacific plans, which sees the leading Spanish hotel group expand to 24 hotels and more than 6,000 rooms in the region. The company’s entry into Myanmar, with the signing of Meliá Yangon, will further increase the group’s presence in South East Asia.
Meliá Hotels & Resorts is the best known international brand in Meliá Hotels International portfolio, offering unforgettable experiences tailored to each traveller’s profile and specific needs.
The new-build hotel will be situated in a prime location in downtown Yangon next to Inya Lake, with quick and easy access to Yangon International Airport and high speed connections to the capital’s city centre. Meliá Yangon will feature 400 bed rooms, including its signature The Level rooms, a YHI spa, a variety of restaurants and a wide range of meeting facilities. The project will be developed by Hoang Anh Gia Lai Myanmar (HAGL), the leading real estate company in Vietnam. The hotel will be part of a mixed-use complex including office buildings, apartments and a commercial center.
Bernardo Cabot, vice president Asia Pacific at Melia Hotels International, stated: “Meliá Yangon represents a new milestone for our committed growth in Asia Pacific and we are eager to bring our most internationally recognized brand, Meliá Hotels & Resorts, to Myanmar thanks to the confidence and support of our partner Hoang Anh Gia Lai Myanmar. This hotel will boost our brand awareness within the region, whilst providing the platform in which to expand to other locations within the country.”
Myanmar experienced growth of gross domestic product of 6.7 percent in 2014, while the country's tourism income has shown a startling year on year growth, recording a 67 percent increase in earnings in 2012. Myanmar is also one of the wealthiest countries in South East Asia, in terms of natural resources, with bountiful supplies of natural gas, oil, gemstones, lumber and teak wood.
Yangon, the former capital of Myanmar, still remains the country's largest city and main economic hub. Since 2011, the country has been through a period of political, economic and social reform, including a tourism development plan aimed at improving competitiveness. In 2014, Myanmar recorded its highest ever number of tourists, with more than 3 million people visiting from mostly Asian countries including Thailand, China, Japan, Korea, Malaysia and Singapore. Airlines have also expanded routes to both domestic and international destinations, leading to an increased flow of tourists and, in turn, the growth of the hotel market. The developing hotel industry has seen double-digit growth in RevPAR since the start of economic liberalisation measures in 2011, which has brought with it higher foreign investment.
SOURCE: Melia Hotels International press release
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