Since 2011, Myanmar tourist arrivals have grown at an average rate of 55% per annum to 4.68 million tourists in 2015, whilst in the same period, tourist expenditure increased by over 500% reaching U$2bn. The World Travel and Tourism Council expects Myanmar to achieve the second strongest rate of tourist arrivals over the next decade out of 184 countries.
McKinsey & Company predicts that by 2030 the tourism industry in Myanmar will contribute $14.1bn to GDP and employ 2.3m people making it one of the key growth sectors of the economy. The government has focused its resources on driving tourist arrivals and revenue by relaxing visa regulations and implementing an e-visa program.
MSH strives to create value by sourcing strategic locations and working with both local and foreign partners to meet the growing demand for hospitality offerings throughout Myanmar. Typical operating and management agreements with local hotel owners are 10 + 10 years long.
The team is able to bridge the knowledge gap having lived and operated both in developed markets such as the U.S., U.K. and Italy as well as growth markets such as Singapore, Thailand and China.
CASE STUDY: Ostello Bello Bagan
The first property is centrally located in New Bagan and features 27 rooms with 118 beds in both private rooms and dormitories. Ostello Bello Bagan climbed quickly through online travel agency ratings, such as Agoda.com, Booking.com and Hostelworld, to become a Top 3 property. In 2017, Hostelworld named Ostello Bello Bagan as the “Best Hostel in Myanmar”.
MSH led this deal by:
- Sourcing the first location in New Bagan
- Negotiating all legal agreements
- Obtaining relevant authorisations
- Supporting Ostello Bello Bagan to train the staff
- Managing day-to-day operations of the property and expanding to new locations
What We Seek
MSH is focused on further expanding its platform in the accommodation space. We are actively seeking partners and locations in key tourist destinations throughout the country.
The team is also keen to evaluate partnerships in the luxury and boutique hotel segments. Our market knowledge of and operational experience in Myanmar makes us an attractive business partner.
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