Super Hotel opens modern Japanese-style hotel in Myanmar’s special economic zone
YANGON, NNA – Japanese chain Super Hotel Co. has opened its second hotel in Myanmar, betting on more business travelers from Japan despite the recent slowdown in overall foreign investment in the emerging economy.
Super Hotel Myanmar Thilawa offers modern Japanese amenities for 129 bidet-equipped guest rooms. It is located in the Thilawa Special Economic Zone, about a one-hour drive from Yangon, the country’s commercial capital.
Many Japanese companies have manufacturing facilities in the zone, which has housing areas but until now no hotel.
The company says that the four-story hotel has spas, a restaurant and some rooms that are equipped with a kitchen.
Myanmar saw a second consecutive annual decline in overall approved foreign direct investment in fiscal 2017 that ended in March 2018, government data have shown. In the same year, business investment from Japan hit its highest level since the transition from military to civilian rule in 2011.
The average hotel room occupancy rate in Yangon stood about 40 percent in the final quarter of 2018, far below a range of 70 to 80 percent seen in 2012, when companies flocked to Myanmar after the transition, according to a February report by the property consulting firm Colliers International.
Super Hotel has expanded its chain to about 130 locations in Japan in the past 17 years, according to the company’s website. It has also opened hotels in Hanoi, Vietnam (2014) and Yangon, Myanmar (2015).
The average room occupancy rate at Super Hotel Myanmar Yangon, the chain’s first hotel in Myanmar, is still below the average rate of their hotels in Japan, which is 90 percent, according to Chairman Ryosuke Yamamoto.
“Myanmar faces challenges but the Thilawa Special Economic Zone will lead
economic development in the country. It has rich tourism resources and good prospects for the hotel sector,” he said at the opening ceremony for the zone’s hotel on the weekend.
The company aims to achieve a room occupancy rate of around 60 percent in three years as it expects more companies to establish offices and factories in the economic development zone, Yamamoto said.
A total of 101 manufacturers and service firms had signed commercial lease agreements in the zone by the end of January, with 62 in operation, according to the Japan External Trade Organization.