Hilton to Enter Myanmar
Thursday March 7th, 2013 - 11:32AM H
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YANGON, MYANMAR–Hilton Worldwide plans to enter the Burmese market in 2014 with the 300-room Hilton Yangon.
Hilton will manage the hotel on behalf of the owner, LP Holding Co., Ltd. Following the social and economic reforms Myanmar has made in the past year, the country has seen visitor arrivals grow by 45.1%, compared to the previous year. Yangon, in particular, is positioned to grow much faster than many other emerging markets in Asia, according to Hilton research.
The 21-story hotel will be part of a mixed-use development that includes high-end retail and office components.
Tags: • Hospitality • Ownership •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.