Yangon to get 1,000 new hotel rooms this year
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Yangon will have 1,000 new international-standard hotel rooms this year, still insufficient to meet growing demand in the former capital, a leading real estate firm said Tuesday.
The new rooms under construction will increase capacity by 65 percent, according to a report compiled by Jones Lang LaSalle.
Myanmar's former capital and largest city has about 9,100 hotel rooms of which 1,500 are classified as international-standard.
"Though the growth of new international standard supply in 2013 issubstantial, it is from a low base and will fail to fulfill the strong growth of demand for quality hotel rooms in the city," said Andrew Langdon, Jones Lang La Salle executive vice president.
Myanmar's former capital and largest city has about 9,100 hotel rooms of which 1,500 are classified as international-standard.
"Though the growth of new international standard supply in 2013 issubstantial, it is from a low base and will fail to fulfill the strong growth of demand for quality hotel rooms in the city," said Andrew Langdon, Jones Lang La Salle executive vice president.
Yangon's hotel room prices have soared over the past three years as tourists flock to Myanmar, which shed its image as a military-run pariah state following a general election in November 2010.
Some 559,601 tourists visited last year, up 55.7 per cent from the previous year, with most of them passing through Yangon Internatioanl Aiport, according to government statistics.
"Visitor arrivals are expected to remain strong for the remainder of 2013 as many hoteliers in Yangon report bookings near full capacity for the coming high season during the final quarter of the year," Langdon said.
The real estate company said another 4,700 hotel rooms are planned for completion during 2014-17, including several international chains.
The France-based Accor group will open the 366-room Novotel Yangon Max hotel next year, when Hilton Hotels will open the 300-room Hilton Yangon, the report said.
