Myanmar invites hotel investment
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Myanmar is inviting investment in the country’s hotel industry as it looks to promote its fast emerging tourism sector. Over US$655 million has already been injected in 21 completed hotels with 3,905 rooms, while US$285 million has been has been invested in four ongoing projects with 1,385 rooms, reports Xinhua. The Burmese government has attracted large sums from Asian investors already. Singapore has led the way with US$593.531 million, followed by Thailand US$202.5 million, Japan US$68.75 million, Hong Kong US$77 million and Malaysia US$5 million. The foreign owned hotels include Yangon’s Sedona Hotel, Strand Hotel, Traders Hotel and Park Royal Hotel, among others, as well as Mandalay’s Sedona Hotel, Mandalay Hill Resort Hotel, Mandalay Swan Hotel and Thiri Pyitsayar Sakura Hotel.
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