2020 Q3 Myanmar Hotel Market Report Colliers


Summary & Recommendations

Despite calls to partially ease travel and flight restrictions amid stricter health and safety protocols, it has become clear that a full recovery is likely to be a tedious process, and the tourism industry, which contributed almost 7% of the total GDP in 2019, may not return to pre-pandemic levels, at least in the near term. While foreign arrivals are expected to remain muted, Yangon hotels are encouraged to strongly tap on the domestic market instead. Though still insufficient, this may somehow artificially keep occupancy and revenue levels afloat. Over time, with the local tourism initially picking up pace, hotels are advised to gradually gear up. In particular, the lack of recreational activities following the impact of pandemic means that Yangon residents especially families are likely to find comforts through local getaway options. Hoteliers are then encouraged to develop staycation products, adopting urban sanctuary concept as a lifestyle offering. All these, while keeping hygiene and health standards at a high level.

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