Centara forays into Myanmar with MoU to manage six properties

Thailand’s Centara Hotels & Resorts and KMA Hotels Group have signed an MoU to begin the development and renovation of six hotels in Myanmar, all to be managed under Centara brands.

This will see three of KMA Hotels Group’s existing properties located in Inle, Naypyitaw and Taungoo undergo refurbishment prior to reopening, and the development of three new hotels in Bagan and Than Daung, namely Centara Bagan River View Resort & Spa Kaytumadi Dynasty Bagan Resort, Centara Boutique Collection and Shwe Than Daung Resort, and Centara Boutique Collection.

All six hotels will operate under the upscale and upper upscale Centara and Centara Boutique Collection brands. The Centara Paradise Inle Lake Resort & Spa is scheduled open its doors in 4Q this year.

The deal marks Centara’s entry into one of the world’s fastest-growing tourism markets and enables the company to secure a significant Myanmar foothold.

“Our partnership with KMA Hotels represents a significant milestone for Centara,” said Thirayuth Chirathivat, Centara’s CEO. “It gives us the opportunity to establish a significant presence for Centara in a country with huge potential for tourism development.”

KMA Group of Companies is a privately held company founded and led by Khin Maung Aye, chairman of CB Bank. The group comprises 15 corporate entities operating across a range of industries.