Banyan Tree Joint Venture For 17 Myanmar Hotels
Category:
Hotels, Posted:17 Mar 2020 | 07:51 am
Banyan Tree Holdings has entered into a joint venture with Myanmar Treasure Hotel and Resort Group (Htoo Hospitality) for 15 operating and two pipeline properties in Myanmar.
The JV will manage the Myanmar partner’s portfolio and also take on third party management party management contracts.
Spanning a number of locations across the country, the group will use Banyan Tree’s IP of brand families and will also have a dedicated brand according to SKIFT.
As Asia’s regional chains look to get a foothold in fast developing countries, a new wave of operators are opting for joint ventures despite the strategy having a legacy of mixed results.
Thailand’s Dusit recently did a deal in the Philippines with Metro Pacific for hotels and residences across the country.
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