Thailand-based Centara Hotels & Resorts and KMA Hotels Group, a subsidiary of Kaung Myanmar Aung Group of Companies, have signed an MOU (memorandum of understanding) to begin the development and renovation of six hotels in Myanmar, marking the company's debut in the country. Work on the project will begin this year, and the hotels will be managed under Centara brands.
Three of KMA Hotels' existing properties in Inle, Naypyitaw and Taungoo will be renovated prior to reopening. At the same time, the company will develop three new hotels in Bagan and Than Daung: Centara Bagan River View Resort & Spa Kaytumadi Dynasty Bagan Resort, Centara Boutique Collection and Shwe Than Daung Resort, 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 will open in Q4 of this year.
KMA Group of Companies is a privately held company founded and led by Chairman U Khin Maung Aye, also chairman of CB Bank. The group includes 15 corporate entities operating across a range of industries.
Centara's expansion strategy calls for doubling the number of properties under its management by 2022.