THE Sheraton Hotel Yangon project, implemented in cooperation with US-based Star Wood Hotels and Resorts Company and the Family Business Group Hotel Ltd, has achieved 50 per cent completion, according to a project official. The construction of the rooms will begin in December.
The 14-story five-star hotel, the first Sheraton in Myanmar, is being constructed on a 1.23-acre plot of land with a construction budget of US$30 million. The 217-foot by 266-foot hotel is scheduled to open in February 2017. It will have 375 rooms and a two-story parking basement to hold up to 200 cars. The hotel will have a 700-person capacity ballroom and six restaurants, including one on the rooftop. The hotel will have all the facilities of a five-star hotel. Over 500 jobs will be offered at the hotel, and about 200 affiliated companies will do business with the Sheraton Yangon, said an official of the Family Business Group Hotel Ltd. The project started in March 2014, when it was approved by the Yangon City Development Committee. The project had already been submitted to the Myanmar Investment Commission, according to the project official. The volume of foreign tourists has grown every year in Myanmar for the last several years. Officials expect around 4.5 million tourists to visit the country this year.
Soe Win (SP)