Wyndham Hotel Group has signed a franchise agreement with Asia Myanmar Shining Star Company for its first hotel in Myanmar. The 260-room Wyndham Grand Yangon Royal Lake will be to the south of Kandawgyi Lake in Yangon, part of a US$157 million mixed-use project called the Kantharyar Centre.
The site, owned by Yangon City Development Committee, was formerly a driving school. After the authority granted the project permission in 2012, protesters said the site should remain in the hands of the public, but their requests fell on deaf ears.
The 1.5-hectare project will also include a residential tower with 132 units, serviced apartments, an office block with 168 units and a shopping centre, according to a September 2 press release.
Asia Myanmar Shining Star will invest around $70 million in the hotel, which will feature a banquet hall, two conference rooms, a meeting room, a swimming pool, a gym and restaurants, said spokesperson U Kyaw Khaing.
“The groundwork for phase one is complete and we anticipate the whole project will be finalised by 2017.” Phase one will comprise the office tower, the second stage will include the shopping centre and serviced apartments. Phase three will see completion of the hotel and the residential tower.
Wyndham first announced it would enter Myanmar in February, when it signed an operational agreement with Asia Myanmar Consortium Development (AMCD) and Hong Kong-based Shining Star Investment. AGA Architects from Singapore will be responsible for the design, according to the company’s website.
Wyndham is the latest international hotel operator to enter Myanmar in anticipation of a boom in tourist arrivals, which numbered more than 3 million last year, according to data from the Ministry of Hotels and Tourism, up from less than 1 million in 2011.
(Source: Myanmar Times)