Amid ample of foreign investments in Myanmar, hotels and tourism sector is more flourishing and three foreign owned hotels will be opened in October, per source of Hotels and Tourism Directorate. They are: Vietnam based HALL, date not fixed yet, Sule Center Point Hotel Tower on 1 October and the extension of Sedona Hotel on Kabar Aye Pagoda Road on 17 October.
“There are more foreign investments in business and hotels and tourism than in the past. Hotel/ tourism sees more foreign hotels and joint venture hotels when compared with in the past. There are some hotels under construction and so new hotels will emerge in this year,” said an officer from Hotels and Tourism Directorate. Alien countries come to invest in hotel sector and Hotels and Tourism Directorate grants permits through Myanmar Investment Commission if they are consistent with the rules and regulations. Foreign business people eye on hotel construction and the existed hotels become to extend construction. Hotels and tourism sector has 46 projects from nine countries within the whole year of 2014 and local has reached 1106 hotels.
During last year, Mandalay stands as the most foreign invested city and this year, Yangon tries to be invested. The coming extended hotel sector is involved not only from local but also foreign. Hotels have high standard to serve foreigners though they are not five or four stars hotels.
Source : Traveller (From Aug 31 to Sept 6 ) Vol 3, No 12