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.

Support more independent journalism like this. Sign up to be a Frontier member.

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.

More stories

Latest Issue

Stories in this issue
Myanmar enters 2021 with more friends than foes
The early delivery of vaccines is one of the many boons of the country’s geopolitics, but to really take advantage, Myanmar must bury the legacy of its isolationist past.
Will the Kayin BGF go quietly?
The Kayin State Border Guard Force has come under intense pressure from the Tatmadaw over its extensive, controversial business interests and there’s concern the ultimatum could trigger fresh hostilities in one of the country’s most war-torn areas.

Support our independent journalism and get exclusive behind-the-scenes content and analysis

Stay on top of Myanmar current affairs with our Daily Briefing and Media Monitor newsletters.

Sign up for our Frontier Fridays newsletter. It’s a free weekly round-up featuring the most important events shaping Myanmar