Peninsula parent Hongkong and Shanghai Hotels reached an agreement with Singapore developer Yoma Strategic Holdings for a Peninsula hotel to be built in the old Burma Railway headquarters in central Yangon, Myanmar's largest city.
The agreement is contingent on Yoma acquiring the property, which is adjacent to the Bogyoke (formerly Scott’s) Market. The colonial building would be preserved as part of the development.
No timetable, development cost or room count was disclosed.
Peninsula operates nine luxury hotels worldwide, with a 10th slated to open in Paris later this year.
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