International quality hotel rooms in the former capital of Myanmar are expected to grow by 36.7% a year from 2012 to 2016, assuming all projects now underway or in the pipeline are completed, according to real estate consultancy firm Jones Lang LaSalle Hotels.
Yangon has experienced tremendous growth in visitors in the past year as Myanmar began economic and social reforms, and as a result, hotels are now experiencing significant growth in demand from both corporate and leisure travellers. However, major international brands are relatively scarce in Yangon due to the economic sanctions that have prohibited American and European hotel operators from entering the market.
Andrew Langdon, senior vice president, Jones Lang LaSalle Hotels said JLL expect hotel supply in Yangon to grow rapidly in the coming years as a result of this shortage of rooms and pressure from the government to increase capacity.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.