Memories Group by Yoma Strategic, following its listing on the SGX back in the start of 2018, had bought a minority share in Strand Hotel International Ltd last week. An investment worth $3.19 million has given the Group a part in a cruise ship and three hotels, among them the world-renowned Strand Hotel, facing the Yangon River; the 4-star Inya Lake Hotel; the cozy, modern Hotel G–conveniently placed in the city center.
“The acquisition is in line with our plans to own, develop and/or operate more hotels and lodges so as to expand our hotel business segment,” said Memories Group CEO Cyrus Pun. He also expressed his visions for the future:”I am keen to drive the expansion of our hotel business footprint across the country in order to further cement our position as the leading tourism company in Myanmar.”
Hotels aren’t the only thing on the Memories Group’s portfolio, as it also owns Balloons Over Bagan–which in addition to its hot-air balloon flights over both the ancient temples of Bagan and popular resort Inle Lake, earlier this year announced the launch of balloon adventures in Loikaw.
Being off-limits to tourists due to our country’s political and economic solitude just a decade ago, Our tourism industry looks set to challenge many of Myanmar’s top destinations.