Myanmar – Pan Pacific Hotels Group will be introducing the first “Pan Pacific” property in Yangon in 2016, strengthening the group’s presence in Myanmar since the opening of PARKROYAL Yangon 12 years ago.
The 348-room Pan Pacific Yangon will be part of a mixed-use development comprising serviced apartments, retail and office spaces, located in the heart of Yangon’s city centre along Shwedagon Pagoda Road and Bogyoke Aung San Road.
Offering expansive views of iconic landmarks Anglican Trinity Church, Yangon River and downtown Yangon while seated across famous bazaar Bogyoke Aung San Market, the property will feature a ballroom and meeting rooms, as well as guest facilities such as a swimming pool, spa, gym, all-day dining restaurant, and a specialty restaurant.
Pan Pacific Yangon is under a conditional joint venture signed with Shwe Taung Group, one of Myanmar’s leading corporations in real estate and infrastructure development. Based on a 20:20:60 shareholding basis, Shwe Taung Group will hold a 60 per cent interest, Pan Pacific Hotels Group a 20 per cent interest, and City Square Pte Ltd the remaining 20 per cent.
Meanwhile, PARKROYAL Yangon is expected to refresh its guest experience through extensive renovations of its ballroom, restaurants, and public spaces.
The group is also exploring opportunities in Naypyidaw, the country’s capital and host city for the 27th Southeast Asian Games this December and the 2014 ASEAN Summit.