Max Myanmar Company is due to complete the construction of the five-star Novotel Hotel in Yangon by December, according to sources from the company.
"It will be a five-star hotel with 366 rooms. Singapore's IIDA will take care of its building design, Vietnam's AA Corporation is handling its interior design, and French Accor Hospitality will take care of its operation management," the sources said.
Yangon now has 5 five-star hotels. There are six state-owned hotels and 762 private-owned hotels operating around the country, according to official data from Ministry of Hotels and Tourism.
The investment volume made by Myanmar nationals in the country's hotels and tourism sector reached Kyats 183 billion in July this year.