New boutique hostel opening

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 Cesenni, Founder and CEO	[e-mail]
Allenby Capital Limited (Broker) Nick Athanas James Thomas Nick Naylor	[phone]
Yellow Jersey (Financial PR) Georgia Colkin Joe Burgess Henry Wilkinson	[phone]

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.

 

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