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Wyndham to Grow in Southeast Asia with Myanmar Debut

Zacks Equity Research
Updated

Travel and hospitality companies are looking to expand rapidly in the emerging global economies. In keeping with this trend, Wyndham Worldwide Corporation WYN recently signed a franchise agreement for a property to be unveiled in Myanmar under its brand, Wyndham Grand.

The hotel, to be located in Yangon, the capital city of Myanmar, marks the company’s entry in the country. The Wyndham Grand Yangon Royal Lake hotel will be owned by Asia Myanmar Shining Star Company, a joint company involving Yangon-based Asia Myanmar Consortium Development and Hong Kong-based Shining Star Investment.

The 260-room hotel will be part of the mixed-use Kantharyar Centre Project at the southern border of Yangon's popular Kandawgyi Lake. The complex, to be completed by 2017, will include a residential building, serviced apartments, an office tower and a retail center.

The hotel will offer a banquet hall, two well equipped multi-purpose conference rooms, meeting space, swimming pool, gym, spa and on-site multi-cuisine restaurants. The strategic location and amenities offered would make the hotel popular among both business and leisure travelers.

Management believes that Myanmar is gradually becoming popular among travelers, and is one of the most famous destinations in the emerging markets. The country's recent efforts to boost tourism, including the expansion of its e-Visa program and construction of an international airport, would make it a haven for tourists. The country’s political stability and rich culture sweeten the deal further for travelers.

This hotelier’s decision to enter Myanmar comes on the heels of its recently announced expansion in the Southeast Asia and the Pacific Rim, including hotels in South Korea, China, Thailand, Malaysia, New Zealand, Vanuatu and Australia. More than 60 properties are currently under development in these regions.

Wyndham has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader industry are Red Lion Hotels Corporation RLH, Boyd Gaming Corporation BYD and Century Casinos Inc. CNTY. All these stocks sport a Zacks Rank #1 (Strong Buy).

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WYNDHAM WORLDWD (WYN): Free Stock Analysis Report
 
RED LION HOTELS (RLH): Free Stock Analysis Report
 
BOYD GAMING CP (BYD): Free Stock Analysis Report
 
CENTURY CASINOS (CNTY): Free Stock Analysis Report
 
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Zacks Investment Research