Pan Pacific Hotels Group has entered into a conditional joint venture with Shwe Taung Group, one of Myanmar’s leading corporations in real estate and infrastructure development, to develop the first Pan Pacific hotel in Myanmar.
Subject to receipt of all necessary regulatory approvals from the relevant Myanmar authorities, the hotel will be called the Pan Pacific Yangon.
The joint venture will be on a 20:20:60 shareholding basis, with Pan Pacific Hotels Group holding an interest of 20% and Shwe Taung Group controlling a 60% interest, while City Square Pte Ltd will own the balance 20%.
Apart from the said regulatory approvals, the joint venture is also subject to various other conditions, including the entry into a series of related agreements by the parties and/or their respective affiliates and the Joint Venture Company (where applicable).
Myanmar’s Ministry of Hotels and Tourism has identified four zones for hotel expansion at Ngapali Beach to accommodate an increase in tourist arrivals.
Ngapali Beach Bayview Hotel manager, Myat Moe, told local media that the government intends to develop the west coast beach resort on the Bay of Bengal (18.26N, 94.19E). It is the country’s main beach destination and could ultimately compete with Thailand’s beach destinations far to the south.
“I understand that the Minister of Hotels and Tourism submitted four areas for expansion around Thandwe (Ngapali Beach) to the president when he visited Thandwe recently.
“The areas are in front of the Thandwe (Ngapali) Golf Resort and near Singaung village, Linnthar village, and Mawyone village,” he said.
Siem Reap provincial tourism department reports visitors to Angkor Wat historical park, January to September, reached 1.57 million tourists, an increase of 6% over the same period last year.
For the first nine months of this year, South Korea, China, Vietnam, Japan and Thailand were the largest source markets for the temple complex.
South Korea led the field with 259,630 visits improving 3% following by 201,000 Chinese (+60%), 121,700 Vietnamese (-32%), 108, 540 Japanese (+11%), and 81,060 Thais (-5%).
Myanmar estimates it could welcome 2 million foreign tourists to the country this year.
It managed to surpass the million mark in 2012 after decades of struggling against political sanctions that dampened the country’s travel appeal.
Myanmar’s Vice President, Sai Mauk Kham, confirmed a sharp 58% rise in visits to the country up until August.
“Last year, about 1.06 million foreign tourists visited the country. We have already exceeded 1 million in eight months,” he said. “We could attract 1.8 million to 2 million tourists by the end of the year.”
According to the Bangkok Post, Myanmar is asking Thailand low cost carrier Nok Air to look at more routes in Myanmar prior to the airline’s arrival in Yangon…
Nok Air is in full preparation to land soon in Myanmar. The low cost carrier will open on November 1st its first international route out of Bangkok Don Mueang Airport to Yangon. Since October 1st, its regional subsidiary Nok Mini is already flying with an ATR 72 the Mae Sot-Yangon route as well as Mae Sot-Mawlamyine, a not very far city on the other side of the border but rather inaccessible due to bad road infrastructures. It takes up to nine hours to reach Mawlamyine by car from Mae Sot while flight covers the distance in just 20 minutes!