American companies are looking to invest in Myanmar's hotel industry after representatives from Brownstone Furniture met with the Ministry of Hotels and Tourism on Wednesday.
Former US Congressmen Mr. Jim Webb and Mr. Christopher Kingsley from Brownstone Furniture met with Minister of Hotel and Tourism Htay Aung to discuss possible hotel projects in Bagan, Yangon and Pyin Oo Lwin.
Nearly 1.06 million tourists visited Myanmar last year and the figure increased by about 30 percent from 2011. The American companies want to invest alone or create joint ventures in the hotel industry.
Myanmar is expected to receive 1.5 million tourists in 2013. The Ministry of Hotels and Tourism has granted licences for the constructions of an additional nearly 30,000 rooms in 826 hotels.