Hilton Worldwide has become the first major international hotel company to announce its entry into Myanmar.
The company has signed a management agreement with LP Holding Co Ltd to operate the 300-room Hilton Yangon, which is expected to open in the city’s central Kyauktada Township area in 2014.
“This agreement is a significant milestone for us as it represents both Hilton Worldwide’s and the Hilton brand’s entry into Myanmar,” said Andrew Clough, Hilton’s senior vice president of development for Middle East & Asia Pacific. “Backed by a strong partner like LP Holding Co Ltd, we are very confident that as the first internationally-branded hotel in Yangon, Hilton Yangon will set the benchmark for quality hospitality experiences catering to both domestic and international travellers.”
The 21-storey Hilton Yangon will form part of Centrepoint Towers, a new mixed-use development that also includes retail outlets and an office tower. Situated on the corner of Sule Pagoda Road and Merchant Street, the hotel will be located opposite Yangon’s High Court building and Independence Monument Park. As the one of the tallest buildings in the city, it will also offer guests views across the Yangon skyline.
Facilities at the hotel will include will include three restaurants, a sky bar, lobby lounge, swimming pool, fitness centre, spa, business centre and 1,400m² of event space including an 850m² ballroom.
While Myanmar is developing fast, it still has a severe shortage of hotel rooms. Currently there are estimated to be only around 28,000 hotel rooms in the country – fewer than in downtown Bangkok – and a recent report by Jones Lang LaSalle Hotels predicted that Yangon alone would see a 37% increase in hotel supply every year between 2012 and 2015.
While companies like Orient-Express, Sedona and Pan Pacific already have a presence in Myanmar, Hilton will be one of the first major international hotel groups to enter the country. Among other companies, Best Western has also been very vocal about its intentions to enter Myanmar in the near future.