Eden Group planning to invest $130m in Bagan, Inle projects

One of Myanmar’s biggest conglomerates, Eden Group, is planning to spend an estimated US$130 million (about K170 billion) building two hotels in partnership with Hilton Worldwide Holdings, the Nikkei Asian Review reported on November 25.

The plan calls for opening hotels of between 150 and 200 rooms in two of the country’s top tourist destinations, Bagan and Inle Lake, as early as 2018, Eden Group chairman U Chit Khine, told the NAR.

The hotel at Inle Lake will probably operate under the Hilton brand and the Bagan facility is likely to become Myanmar’s first Conrad luxury hotel, the report said.

Eden already operates Hilton hotels in Nay Pyi Taw and the coastal resort of Ngapali in Rakhine State under a partnership it established with the American company in 2014.

NAR said Eden, Myanmar’s largest hotel operator, is also planning to turn a hotel in Mandalay that it bought from Singapore’s Keppel Land in October into a Hilton.

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Eden also operates smaller hotels under the Thingaha and Link brands. Chit Khine told the NAR the Eden Group was exploring the possibility of developing hotels with a big Japanese real estate company.

The group was established in 1990 and has interests in construction, banking, agriculture and trading, as well as hotels and tourism.

The group enjoyed close ties with the former military government and its projects have included building the Presidential Palace and the Defence Services Museum in Nay Pyi Taw.

By Frontier

By Frontier

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