SGX-listed Memories Group acquires stake in three Yangon hotel assets

SGX-listed Memories Group acquires stake in three Yangon hotel assets

Photo: Juliet Shwe Gaung. Sule Pagoda in Yangon.

SGX-listed Memories Group, a Myanmar-based tourism-focused company, on Monday announced that it has acquired a 15.28 per cent stake in Strand Hotel International Limited for a consideration of $3.19 million, according to a company release.

SHIL has interests in three hotels – Strand Hotel, Inya Lake Hotel, and Hotel G Yangon – and The Strand Cruise in Yangon.

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