Pan Pacific Hotels Group to debut its “Pan Pacific” brand in Myanmar with new joint venture Pan Pacific Hotels Group has announced a conditional joint venture with Shwe Taung Group, one of Myanmar’s leading corporations in real estate and infrastructure development, to develop the first “Pan Pacific” hotel in Myanmar, to be known as Pan Pacific Yangon. The joint venture would be on a 20:20:60 shareholding basis, with Pan Pacific Hotels Group holding an interest of 20% and Shwe Taung Group controlling a 60% interest, while City Square Pte Ltd will own the balance 20%.The partnership, which was formalised with a signing ceremony in Myanmar on 26 October, will also see Pan Pacific Hotels Group manage the 348-room hotel..Shwe Taung Group boasts a diverse business portfolio which includes property development, retail mall management, construction and construction materials, energy and infrastructure. With a workforce of 6,000 people, the Group is one of the largest employers in Myanmar. Opening in 2016, Pan Pacific Yangon will be part of a mixed-use development that also comprises serviced apartments, retail and office spaces. It is strategically located along Shwedagon Pagoda Road and Bogyoke Aung San Road in the heart of Yangon city centre, and opposite Bogyoke Aung San Market (previously known as Scott Market), a key attraction and a major bazaar for tourists and locals alike. Bringing to life the “Pan Pacific” brand promise of “Your Refreshing Pacific Experience”, Pan Pacific Yangon will feature 348 beautifully furnished rooms and an extensive range of luxurious guest facilities including a swimming pool, spa, gym, ballroom, meeting rooms, an all-day dining restaurant and a speciality restaurant. The hotel will also offer expansive views of iconic destinations such as the Anglican Trinity Church, Yangon River and the bustling Yangon downtown. K.Z.Mon
Posted on: Mon, 04 Nov 2013 09:13:29 +0000
Trending Topics
Recently Viewed Topics
© 2015