A drawing of the dusitD2 Tianjin, China
More than 10 properties in the pipeline
Dusit International aims to cash in on Myanmar's growing popularity as a leisure and corporate destination through the opening of the dusitD2 Residence in Yangon.
"Myanmar bears enormous potential in the tourism industry, offering a wide diversity of attractions ranging from historical, cultural and beaches and even snow-capped mountains in the north," Rustom Vickers, director of development, said yesterday.
The hospitality company has more than 10 properties under planning and development in the neighbouring country.
The hotel/serviced apartment project, which is a joint investment with a Japanese firm active in the country, will target long-stay guests and corporations with businesses in the city, supplemented by holidaymakers.
"Located in an accessible and pleasant environment, this property will serve the market very well and definitely improve the accommodation offerings in the city," he said.
Since 2012, Myanmar has been welcoming investors and tourists with open arms. This year, the country targets a sharp increase to 3 million arrivals from 2.04 million last year.
Yangon International Airport, the country's main gateway, recorded more than 500,000 travellers in the first half of the year.
Some multinational companies have opened offices in the country, but there is a dearth of hotels and serviced apartments to house their executives. According to Myanmar's Hotels and Tourism Ministry, there are 1,000 hotels with 38,722 rooms, of which only six hotels are five-star. The rest comprise 17 four-star, 83 three-star, 116 two-star and 102 one-star hotels, along with 599 ministry-approved hotels, motels and inns.
Room rates have been skyrocketing.
"The dusitD2 brand focuses on contemporary, efficient design and convenience for modern-day travellers. We believe this will be very successful for Myanmar due to the dynamics of the hotel market and profile of guests visiting the country," Vickers said.
Established six decades ago, Dusit International now runs 21 properties in countries including the United Arab Emirates, Egypt, China, India and the Philippines.
They come under four major hotel and resort brands - Dusit Thani, Dusit Devarana, dusitD2 and Dusit Princess.
It also operates Dusit Residence serviced apartments and its signature Devarana spas.
The development of more than 20 properties is under way.
The chain this week landed a contract to manage the 400-room dusitD2 in Tianjin, the largest coastal city in northern China. It is about 30 minutes from Beijing by high-speed train. It hosts more than 300 Fortune 500 companies and acts as a hub for high-end industries such as electronic information engineering, automobiles, equipment manufacturing, wide-bodied aircraft assembly and new energy generation.
It is also a major seaport and gateway to China's capital.
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Saigon Business Corporation Pte Ltd (SBC) is incorporated in Singapore since 1994.