“More hotels will be given licences to meet demand”
The supply of hotel rooms in Yangon, former capital of Burma and now Myanmar’s most important commercial centre, will almost double in the coming year. Efforts to ease the city’s hotel shortage is intensifying, according to Myanmar’s Ministry of Hotels and Tourism.
Htay Aung, minister of hotels and tourism: “More hotels will be granted [licences] to develop to meet increasing demand, especially in Yangon. Numerous hotels are already under construction around the city and a few more are slated to open in 2016 and later.”
The ministry has also issued 166 hotel licences in the past year – on average three new hotel licences a week.
Myanmar currently has around 930 licensed hotels and 35,000 rooms throughout the country. Yangon has 230 hotels with 10,200 rooms, followed by Mandalay with just over a hundred hotels (4,500 rooms). But only six of the 930 are rated as five-star, 17 as four-star.
The ministry is encouraging local and foreign investors to invest in hotel and other tourism-related businesses, which are “very promising”. The Myanmar Investment Commission has so far granted permission worth up to US$2 billion of investment in 39 hotels and tourism-related projects. In 2014, the number of international tourists will increase to three million, the ministry forecasts.
[pictured: Downtown Yangon]