Global hospitality giant Mariott International will open the first of its Westin Hotels & Resorts located in Yangon in late 2021, the company announced.
The 26-story tower will be located within a USD 400 million development project controlled by developer Yoma Land, which will be acting as Mariott’s local partner in the hotel venture. Paul Foskey, Asia Pacific CEO of the US-listed Marriott International, called the agreement a “milestone” for the company’s presence in Southeast Asia, according to the Myanmar Times.
Westin will follow Hilton, Novotel and, most recently, Wyndham Grand in the ranks of major international brands that have entered Myanmar’s hospitality market. The Yangon Region Tourism Working Committee granted permits for 21 new hotels between May and August 2019, reported the Daily Eleven. The total investment for those new hotels will be almost USD 240 million.
These new hotels have opened despite disappointing growth in Myanmar’s tourism industry. However, investors are banking on an upswing, especially from Asian markets. The Myanmar government has introduced visa exemptions or paperless visas on arrival for several Asian nations. This year, the government even began granting visas on arrival to visitors from some European nations – specifically Australia, Germany, Switzerland, Russia, Spain and Italy. Whether these relaxed visa requirements will coax a new wave of tourists to the Golden Land, and its many new hotels, remains to be seen.
