Banyan Tree Finds Treasure in Myanmar

Banyan Tree has signed a joint venture agreement with Myanmar Treasure Hotel & Resort Group (better known as Htoo Hospitality).

Launched in 2002 and built upon authentic Burmese culture and traditions, Htoo Hospitality owns and manages a collection of 15 hotels located across 8 states and 11 destinations in Myanmar.

With 9 brands under 4 boutique collections, its two signature brands include the Aureum Palace Hotels & Resorts and Myanmar Treasure Resorts.

The JV shall initially be responsible for the management of the 17 hotels and resorts (15 existing properties and 2 in the pipeline) owned by Htoo Hospitality.

These include the Aureum Palace Hotels & Resorts located at Bagan, Ngapali (pictured) and Inle Lake, Myanmar Treasure Resorts and Malikha Lodge as well as projects under development such as Kandawygi Palace Hotel in Yangon and a new destination resort in the Mergui Archipelago.

Some of the properties will gradually be rebranded into either a jointly-developed new brand for the Myanmar market or a brand within Banyan Tree Holding’s brand portfolio.

The JV will also operate the Htoo Hospitality-owned hospitality school in Yangon currently known as Hotel & Tourism Training Centre.

U Tay Za, Chairman of Htoo Group of Companies said: “We are committed to drive sustainable, environmentally responsible growth and help position Myanmar tourism at global level while maintaining a strong Myanmar cultural element in our hospitality experience. By combining our hotel assets, some of the most beautiful properties in Myanmar, and Banyan Tree’s unmatched hotel management know-how, this strategic alliance will drive Myanmar hospitality to a whole new level and bring positive synergies and value to both partners, our employees and environment. As in other sectors, our group of companies welcomes foreign partners and is eager to make this a great success.”

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