Banyan Tree Holdings and Myanmar Treasure Resort & Resort Group Firm (referred to as Htoo Hospitality) have signed a three way partnership settlement for the formation of a resort administration enterprise.
Launched in 2002 and constructed upon genuine Burmese tradition and traditions, Htoo Hospitality owns and manages the biggest assortment of 15 inns positioned throughout eight states and 11 locations in Myanmar.
With 9 manufacturers underneath 4 boutique collections, its two signature manufacturers embody the Aureum Palace Accommodations & Resorts and the Myanmar Treasure Resorts.
The enterprise shall initially be accountable for the administration of the 17 inns and resorts (15 current properties and two within the pipeline) owned by Htoo Hospitality.
A few of these properties will steadily be rebranded into both a jointly-developed new model for the Myanmar market or a model inside Banyan Tree Holding’s model portfolio.
Underneath a long-term partnership, the enterprise envisions to grow to be the highest resort administration firm in Myanmar, overseeing and managing inns owned by third events.
Ho Kwon Ping, govt chairman of Banyan Tree Holdings, mentioned: “As a number one unbiased international hospitality firm, our group has recognized development alternatives in Myanmar’s resort administration sector.
“With this head-start coupled with our resort administration experience, we’re conscious that this three way partnership will open additional alternatives for our group to enter key strategic sectors on this fast-flourishing nation.
“This strategic alliance with the established Htoo Hospitality, Myanmar’s largest resort and resort community, will speed up the expansion and attain of our manufacturers as we elevate hospitality service to yet one more degree throughout the nation.
“We’re excited and dedicated to this partnership.”