|Myanmar introduces room rate cap for hotels.|
Tuesday, 17th July 2012
Source : HVS Interntional
Myanmar’s Ministry of Hotels and Tourism has introduced a room rate cap of US$150 per room per night for hotels under its Foreign Direct Investment (FDI) scheme.
The cap was put in place due to the fears that skyrocketing prices will damage the image of the industry, according to the Minister, U Tint Hsan, at Ministry of Hotels and Tourism.
He also added that the ministry would not recommend visa extensions for the general managers of hotels that fail to observe the limit, while lease extensions permitted under the foreign investment law could also be threatened.
Furthermore, action will also be taken against general managers and parent companies of hotels that provide incorrect room and occupancy rates to the ministry.