Hilton Worldwide signs agreement for five Hilton Hotels & Resorts properties in Myanmar

Hilton Worldwide signed management agreements with Eden Group Company Limited for five Hilton Hotels & Resorts properties in Myanmar.

The partnership with Eden Group represents a milestone for Hilton Worldwide's expansion in Myanmar, following the company's earlier announcement in 2013 as the first western hotel group to have signed an agreement to operate a hotel in the country.

Under the agreement with Eden Group, two of the Group's recently opened properties in the capital, Nay Pyi Taw, and on Ngapali beach in Rakhine State will be rebranded as Hilton Nay Pyi Taw and Hilton Ngapali Beach Resort respectively, and are scheduled to welcome their first guests as Hiltons in October 2014. Three other hotels will open in the next three years, namely: Hilton Bagan and Hilton Inle Lake in 2016 and then the Hilton Mandalay in 2017.

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One of the two hotels which will open in time for the ASEAN Summit and ASEAN Plus Summit 2014 in November is the 200-room Hilton Nay Pyi Taw. The hotel will have three food and beverage outlets, including an all-day dining restaurant, as well as meetings and events spaces.

Hilton Ngapali Beach Resort, located on the beach destination overlooking the Indian Ocean, has 51 guestrooms. The beachfront property also has an all-day dining outlet, a hotel bar and function rooms.

In Bagan, the ancient city on the banks of Ayeyarwady River and home to the densest concentration of Buddhist temples and stupas in the world, Hilton Bagan will offer 220 rooms while Hilton Inle Lake, located within the precinct of Inle Lake, the second largest lake in Myanmar, will have 180 rooms. In Mandalay, the second largest city and economic hub north of Myanmar, Hilton Mandalay will be 300-room property with a ballroom.

Hilton Yangon

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The company experienced an 0.8 percent decline in revenue per available room in constant currency and a 1.9 percent decline at actual exchange rates.

The two hotels, totaling 153 rooms, bring the company to eight open locations.

The Highland Group found extended-stay demand in traditional hotels to be 40 percent higher than in extended-stay hotels.