Myanmar Strategic Holdings Ltd New boutique hostel opening (0261X)
21 November 2017 - 6:00PM
UK Regulatory
TIDMSHWE
RNS Number : 0261X
Myanmar Strategic Holdings Ltd
21 November 2017
21 November 2017
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
New boutique hostel opening
Second boutique hostel in Bagan, adds 58 beds to MSH
portfolio
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent
developer and operator of consumer businesses located in Myanmar,
one of the fastest growing economies in the world, is pleased to
announce that it has officially opened its fourth boutique hostel
in Myanmar, Ostello Bello Bagan Pool, bringing the Company's
portfolio to a total of over 470 beds in its hospitality
division.
The new property is located approximately 400 metres from
Ostello Bello Bagan and consists of 58 beds in 13 shared rooms with
en-suite bathrooms, across 7 bungalows. The boutique hostel offers
a 24/7 reception and with Asian breakfast for all guests as well as
numerous facilities including a swimming pool, a fully licensed
bar, and other recreational facilities.
The property was secured by MSH in May 2017 and it has been
renovated over the course of approximately 6 months with
refurbishment recently completed. The Company has entered into a
ten-year operating and management agreement with the owner of the
property in relation to the Group's management of Ostello Bello
Bagan Pool and in line with MSH's asset light strategy.
Commenting on the hostel opening, Enrico Cesenni, Founder and
CEO of MSH said: "I am thrilled to announce the opening of the
Group's fourth boutique hostel, and its first since listing on the
London Stock Exchange. Our hospitality division has been in
operation since 2014, with the opening of Ostello Bello Bagan, and
we are encouraged by the growing market for foreign independent
travellers and local travellers in Myanmar which has remained
robust despite the recent turmoil on the Western border of the
country.
"As part of our stated strategy we are continually evaluating
expansion opportunities throughout Myanmar both within our existing
hospitality and education divisions as well as new consumer
sectors. We carefully consider each opportunity and are committed
to providing a positive impact in the communities within which we
operate. I look forward to providing regular updates to
shareholders around our continued expansion in this rapidly growing
emerging market."
ENDS
For further enquiries:
Myanmar Strategic Holdings
Ltd. enrico@ms-holdings.com
Enrico Cesenni, Founder
and CEO
Allenby Capital Limited
(Broker)
Nick Athanas
James Thomas
Nick Naylor +44 (0) 203 328 5656
Yellow Jersey (Financial
PR)
Georgia Colkin
Joe Burgess
Henry Wilkinson +44 (0) 203 735 8825
About Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. is an independent developer and
operator of consumer businesses located in Myanmar, one of the
fastest growing economies in the world. Initially concentrating on
Hospitality and Education, the Company intends to focus on the
broader consumer sector in Myanmar as it grows.
The Company's earliest investments have been in the Hospitality
sector - through its portfolio the Company manages over 470 beds
across 4 boutique hostels in 3 core tourist locations across
Myanmar operating under the award winning Ostello Bello budget
hospitality brand. It operates an asset light strategy, entering
into long-term operating and management agreements with local
hostel owners.
Within its education division, the Company currently has
exclusive development and franchising agreements with Pearson for
10 Wall Street English language centres across Myanmar within the
next 10 years. In February 2017, the first WSE centre was opened
and now has over 800 students, the second is due to open in
December 2017.
Myanmar is currently the 4(th) fastest growing (as of March
2017) and of one the most promising economies within Asia Pacific.
Its annual GDP growth is expected to stand at 7.7% in 2017/2018,
making it one of the top 10 fastest growing economies in the world,
whilst the number of middle class consumers in Myanmar is also
expected to double by 2020.
Myanmar Strategic Holdings is well positioned to grant investors
early exposure to Myanmar's strong economic fundamentals enhanced
by ASEAN's wider growth prospects.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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