Centara Hotels is soon to have a presence in Myanmar as it will renovate and rebrand six properties across the country.
One of Thailand largest hotel chain, Centara International Management Co. Ltd, signed a memorandum of understanding (MoU) with Myanmar local conglomerate Kaung Myanmar Association Group of Companies (KMA group).
The deal will see KMA Group pouring US$63 million in the development and renovation of six hotels located in Myanmar major cities, whereas Centara International Management will be in charge as the operator.
Work on the project is expected to begin this year. Three new properties will be built in Bagan and Than Daung while three existing KMA hotels in Inle, Nay Pyi Taw and Taungoo will be renovated and reopened with the new branding. KMA Group operates currently a total of eight hotels and resorts established across Myanmar.
Among the six hotels, Centara Paradise Inle Resort and Spa in Inle, Nyaungshwe Township, Shan state is slated to open by the end of this year.
All six hotels will operate under the upscale Centara and upper scale Centara Boutique Collection brands, marking Centara’s entry into one of the world’s fastest-growing tourism markets and enable the company to secure a major Myanmar foothold.
“Our partnership with KMA Hotels represents a significant milestone for Centara,” said Thirayuth Chirativat, Centara’s Chief Executive Officer.
“We are looking forward to contributing to Myanmar’s development while providing travelers with more options to enjoy our Thai-inspired, international standard of hospitality across a variety of destinations.”
Centara International Management, that operates under Centara Hotels & Resorts, currently provides hotel management services, in addition to owning and operating hotels and resorts in Thailand under the Centara brand.
Centara’s portfolio includes 63 properties spanning across major Thai destinations plus the Maldives, Sri Lanka, Vietnam, Oman, and Qatar.
On the other hand, KMA Group with its headquarters in Yangon has operations across sectors including construction, real estate, tourism, agriculture, and shipping among others.
In another development, Kaung Myanmar Aung Tourism Co Ltd that operates under KMA Group, in partnership with KZX Group (HK) Limited, will be developing a project in Mrauk U, a town well-known for its archaeological site in the northern Rakhine state.
(Source: VC NewsNetwork)