POSCO Daewoo Gets Hotel Biz Rolling in Yangon

POSCO Daewoo Gets Hotel Biz Rolling in Yangon

The five-star hotel is comprised of two buildings, 15-story hotel with 343 guest rooms and 29-story serviced apartment bloc with 315 units

A view of the Hotel Lotte Yangon Complex in Yangon, Myanmar, which was built by POSCO Daewoo Corp. and to be managed by Lotte Hotel in Korea which is made up with a 15-storey hotel with 343 guest rooms and a 29-storey residential building with 315 apartments, along with shopping malls and offices. (Photo: Hotel Lotte)

Posco Daewoo Corp. started the full-fledged operation of Hotel Lotte Yangon nestled in Myanmar’s commercial city of Yangon on September 1, the company announced on recently.

Posco Daewoo is opening the new five-star hotel called Hotel Lotte Yangon near the scenic Inya Lake, a popular destination in the city of Yangon after four years of development. As the project leader, it has managed the entire process including recruiting partners and overseeing construction. It has outsourced hotel management to Hotel Lotte.

The hotel is comprised of two buildings, 15-story hotel with 343 guest rooms and a 29-story serviced apartment bloc with 315 units. It also houses Yangon’s largest banquet hall and swimming pool overlooking the Inya Lake, and other dining and service facilities.

Posco Daewoo secured the right to develop a hotel in Yangon, the former capital of Myanmar, from the Myanmarese government in 2012. Later in January 2014, it formed a consortium with its affiliate Posco Engineering & Construction Co., Seoul-based Hotel Lotte Co. and Mirae Asset Daewoo Co. as well as Myanmarese firms, and has run the hotel development project during the past four years through Daewoo Amara – a local subsidiary set up for managing the project.

Source: http://newsworld.co.kr/detail.htm?no=3650