Source: TTR Weekly
HONG KONG, 29 October 2019: Marriott International Inc has signed a landmark agreement with Myanmar’s leading property developer, Yoma Land, to bring the Westin brand to Myanmar in late 2021.
Under the agreement, the new-build Westin Yangon will feature 281 rooms and suites alongside 90 premium serviced apartments all having spectacular views overlooking downtown Yangon and the iconic Shwedagon Pagoda.
The 26-floor hotel will be part of the Yoma Central integrated real estate development due to be completed in 2021.
Yoma Central will be anchored by the restored former headquarters of the Burma Railway Company, one of Yangon’s oldest and most cherished colonial-era buildings.
The project will feature two Grade A office towers and a collection of luxury private homes, all of which will be connected seamlessly by a retail podium.
“Yoma Land is an ideal partner for debuting the Westin brand in this market,” said Marriott InternationalAsia Pacific chief development officer Paul Foskey. “The signing of The Westin Yangon marks a significant milestone in Marriott International’s continued growth in Southeast Asia, and we look forward to partnering with Yoma Land in building on this momentum.”
Currently, Westin has more than 220 hotels in nearly 40 countries and territories.
Yoma Land head, Stephen Purvis, called the signing “a significant moment in the Yoma Land strategy of seeking out the very best of international partners to reinforce our position as a leading developer in Myanmar.”
The Westin Yangon will be located close to the city’s attractions, including Sule Pagoda, Chinatown, Merchant Street and historic central business district and approximately 18 km from Yangon International Airport.
Designed by prominent architect, Cecil Balmond, Yoma Central comes under Meeyahta Development Limited, a joint-venture between Yoma Strategic (48%), First Myanmar Investment Public Company Limited (12%) (“FMI”), the Mitsubishi Companies (30%), the International Finance Corporation (5%) (“IFC”) and the Asian Development Bank (5%) (“ADB”).