Marriott closes in on deal to build a hotel in Myanmar
Skift Take
Marriott's entrance into Myanmar is on the cautious side as it both waits for the real estate market to cool a bit and watches to see how much ground the newly opened state makes in communication, banking, and transportation.
Marriott International Inc., the largest publicly traded U.S. hotel chain, expects to seal its first agreement for a property in Myanmar in the next six months as the country opens its doors to foreign investors.
The company’s first hotel in the Southeast Asian nation will probably be a Marriott or Courtyard, Asia-Pacific President and Managing Director Simon Cooper said. It’s in four or five discussions with partners for locations including Yangon and Bagan, he said today.
“The conditions at the moment are right and we’re certainly enthusiastic about the opportunities in Myanmar, no two ways about it,” he said in an interview with Bloomberg Television’s Haslinda Amin in Naypyidaw, where he’s attending the World Economic Forum. “They have a masterplan for tourism, which clearly includes international brands, and we would like to be one of them.”
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