Asia Fresh News

Asia Fresh Stories

The Hongkong and Shanghai Hotels Limited and Yoma Strategic Holdings Ltd Sign Agreement to Develop The Peninsula Yangon

leave a comment »

HONG KONG, March 10, 2014/PRNewswire/ — The Hongkong and Shanghai Hotels, Limited (HSH) and Yoma Strategic Holdings Ltd. have announced a definitive shareholders’ agreement for the purpose of restoring the former Myanmar Railway Company headquarters into a hotel to be called The Peninsula Yangon.

Mr Clement K.M. Kwok, Managing Director and Chief Executive Officer of HSH (left) and Mr Serge Pun, Chairman of Yoma Strategic Holdings Ltd (right). Photo credit Berton Chang
The agreement, subject to conditions and approval, will seek to redevelop and restore the heritage building, which dates from the 1880s and is one of the oldest existing colonial buildings in Yangon. It is located on Bogyoke Aung San Road in the central business district of Yangon, one kilometre north of the Yangon River and adjacent to the tourist attraction known as Scott’s Market.

Mr Clement K.M. Kwok, Managing Director and Chief Executive Officer of HSH, commented: “Myanmar is one of the world’s most exciting emerging markets and we see good potential in this market as a luxury travel and tourism destination. We are delighted to partner with Yoma, who share our long-term vision for the success of this project and have a proven track record of successful investments in Myanmar.”

Mr Serge Pun, Chairman of Yoma Strategic Holdings Ltd, said: “The former Myanmar Railway Company headquarters is an iconic building in Myanmar. We believe that working with one of Asia’s most established hotel owner-operators and creator of world-class experiences will be invaluable in restoring the building to its former glory, as well as bring to Yangon a new luxury experience. It is a privilege to be part of this endeavour.”

Written by asiafreshnews

March 11, 2014 at 11:31 am

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: