Source: Centara Hotels & Resorts

Centara Hotels & Resorts, Thailand's leading hotel operator, and KMA Hotels Group, a subsidiary of Kaung Myanmar Aung (KMA) Group of Companies, have announced the signing of a MOU to begin the development and renovation of 6 hotels located at some of Myanmar's most popular tourist destinations, all to be managed under Centara brands. Work on the project will begin in 2019.

This project will see three of KMA Hotels' existing properties located in Inle, Naypyitaw, and Taungoo undergo refurbishment prior to reopening, and the development of 3 new hotels in Bagan and Than Daung. The 3 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 upscale and upper upscale 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 one of the world's fastest-growing tourism markets and enables the company to secure a major Myanmar foothold.

"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 Group of Companies is 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."

Myanmar is the second largest country in Southeast Asia and boasts one of the region's fastest-growing economies. The country's tourism sector is well-placed for a sustained period of growth; the country's anticipated tourism growth rate of 8.5% annually through 2025 puts Myanmar at the top of the world's fastest-growing tourism markets.

The six Myanmar hotels are further proof of Centara's expansion strategy, which calls for doubling the number of properties under its management by 2022, and the complementing expertise of Centara and master developers KMA Group are set to elevate the Myanmar hospitality scene.

About Centara Hotels & Resorts

Centara Hotels & Resorts is Thailand's leading hotel operator. Its 95 properties span all major Thai destinations plus the Maldives, Sri Lanka, Vietnam, Laos, Myanmar, China, Japan, Oman, Qatar, Cambodia, Turkey and the UAE. Centara's portfolio comprises six brands – Centara Reserve, Centara Boutique Collection, Centara Grand, Centara, Centara Life and COSI Hotels – ranging from luxury island retreats and upscale family resorts to affordable lifestyle concepts supported by innovative technology. The group's newest Centara Reserve brand was unveiled in 2020 as an experiential luxury collection, inviting guests to discover a new era of story-driven hospitality starting with Centara Reserve Samui.

Centara also operates state-of-the-art convention centres and has its own award-winning spa brand, Cenvaree. Throughout the collection, Centara delivers and celebrates the hospitality and values Thailand is famous for including gracious service, exceptional food, pampering spas and the importance of families. Centara's distinctive culture and diversity of formats allow it to serve and satisfy travellers of nearly every age and lifestyle.

Centara aims to become a top 100 global hotel group, while spreading its footprint into new continents and market niches. As Centara continues to expand, a growing base of loyal customers will find the company's unique style of hospitality in more locations. Centara's global loyalty programme, Centara The 1, reinforces their loyalty with rewards, privileges and special member pricing.

Find out more about Centara at www.CentaraHotelsResorts.com
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