Thailand: Centara Hotels & Resorts and KMA Hotels Group have signed a MOU for the development and renovation of six hotels in Myanmar.
Located at some of Myanmar’s most popular tourist destinations, all the hotels will be managed under Centara brands. Work on the project will begin in 2019.
The partnership will see three of KMA Hotels’ existing properties located in Inle, Naypyitaw, and Taungoo undergo refurbishment prior to reopening, and the development of three new hotels in Bagan and Than Daung.
The three new hotels are Centara Bagan River View Resort & Spa Kaytumadi Dynasty Bagan Resort, Centara Boutique Collection and Shwe Than Daung Resort, Centara Boutique Collection. All six hotels will operate under the Centara and Centara Boutique Collection brands. The Centara Paradise Inle Lake Resort & Spa will open its doors in Q4 of this year.
The deal marks Centara’s entry into the Myanmar market.
“Our partnership with KMA Hotels represents a significant milestone for Centara,” said Thirayuth Chirathivat, Centara’s CEO. “It gives us the opportunity to establish a significant presence for Centara in a country with huge potential for tourism development, and we are looking forward to contributing to Myanmar’s development while providing travellers with more options to enjoy our Thai-inspired, international standard of hospitality across a variety of destinations.”
KMA Hotels Group is a subsidiary of KMA Group of Companies, a privately held company founded and led by chairman U Khin Maung Aye, chairman of CB Bank. The Group comprises 15 corporate entities operating across a diverse range of industries.
“We are delighted that Centara will be bringing their management expertise and and strong brand to six of Myanmar’s most popular destinations,” said U Kaung Htet Tun, managing director of KMA Group. “Myanmar shows great potential for tourism growth, and Centara’s presence here represents a step forward for the Hotel and Tourism industries.”