KMA Group invests $63m in Centara-operated resorts and hotels in Myanmar

Photo: Paradise Inle Resort.

Thailand’s leading hotel chain Centara International Management Co Ltd has signed a memorandum of understanding (MoU) with local conglomerate Kaung Myanmar Association Group of Companies (KMA group) to renovate and develop hotels and resorts in major cities in Myanmar.

KMA group is putting in $63 million to revamp three of its existing hotels in Inle, Nay Pyi Taw and Taungoo, which will be Centara rebranded; besides building three new hotels in Bagan and Than Daung, according to a company spokesperson.

“Centara International Management will be in charge as the operator of the hotels and resorts,” added the spokesperson.

Centara International Management, that operates under Centara Hotels & Resorts, owns and operates hotels and resorts in Thailand and at the same time, provides hotel management services.

Centara’s portfolio comprises 63 properties spanning across major Thai destinations plus the Maldives, Sri Lanka, Vietnam, Oman and Qatar.

Yangon-headquartered KMA Group of Companies has operations across sectors such as construction, real estate, tourism, agriculture, and shipping, among others.

Construction in the Centara Paradise Inle Resort & Spa in Inle, Nyaungshwe Township, Shan state, is already over and the property is slated to open by the end of this year.

For other properties such as Centara Bagan River Resort & Spa; Kaytumadi Dynasty Bagan Bagan Resort, Centara Boutique Collection; and Shwe Than Daung Resort, construction work will begin in the next few months. Meanwhile, existing hotels such as Centara Royal Naypyitaw Hotel in Nay Pyi Taw and Centara Royal Kaytumadi Resort & Spa in Taungoo, Kayin State will be fully refurbished.

KMA Group, along with its associated companies including CB Bank, Golden Myanmar Airlines, Myanmar Microfinance Bank, CB Securities, CB Insurance, and Myanmar Telecom Network, is chaired by Khin Maung Aye.  He is also the chairman of the Myanmar Investors Development Association.

Currently, KMA Group operates eight hotels and resorts established across the country, some of which will be rebranded under ‘Centara’.

On a similar development, Kaung Myanmar Aung Tourism Co Ltd that operates under KMA Group, in partnership with KZX Group (HK) Limited, will be developing a project in Mrauk U, a town well-known for its archaeological site in the northern Rakhine state.

Meanwhile, the group is also slated to undertake development in the agriculture sector.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.