Published on Sunday, 14 October 2012 12:30
The Yangon urban development strategic project includes a plan to build new hotel zones between Yangon International Airport and the upcoming Hanthawady International Airport, a Yangon regional government official said.
Hanthawaddy International Airport is to be built in the Bago Region, about 50 miles (80km) away from Yangon.
With foreign tourists pouring into the country this year, the country has been facing severe hotel shortage in major cities, including Yangon, the former capital.
The official said lands in Mingaladon, Htaukkyant and Hlegu, which are within Yangon region, have been allocated for the new hotel zones.
According to him, most of the lands are owned by the government and the military. The government will conduct negotiations with owners for private lands.
He added that the government will allow foreign investment in the new hotel zones if the plan is carried out.
Foreign investors from Japan, Singapore, and Vietnam have been visiting Yangon to expand in the hotel industry, but they are still in discussions with the government.
The existing hotel zones in Myanmar are Yangon, Mandalay, Bagan, Taunggyi, Chaungtha, Rakhine, Mawlamyine, Golden Triangle, Bago, Ngwehsaung and Nay Pyi Taw.
A new hotel zone is now being established in Inlay region in the Shan State of northern Myanmar and near Mount Popa, an extinct volcano situated 50km southeast of Bagan.
Myanmar now has about 25,000 hotel rooms across the country. Most are three- to four-star establishments, while five-star ones account for 5 per cent.
Authorities are rushing to address the room shortage.
After 50 years under military rule, Myanmar is now seeing an influx of foreign investors and tourists that has begun to increase hotel development and demand.
Research done by property consultant Colliers International Thailand reported that the downtown, inner city and outer areas of Yangon have 1,730 upscale hotel rooms. However, cities such as Bangkok have more than three times this number.
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