Swiss Hotel Chain to Take over Marriott Deal
8 April 2014
Swiss hotel chain Kempinski AG has entered into a deal with Burma’s Kanbawza Group to manage a hotel in Naypyidaw after US giant Marriott pulled out of the project, according to a report by travel industry news website eTurboNews. The deal has not been formally announced, but the Kempinski Nay Pyi Taw is scheduled to open on May 1, ahead of the Asean Summit to be held later that month. The property will be fully owned by Kanbawza, the report said. Kanbawza was originally working with Marriott on the project, but the US hotel giant pulled out of the deal because of a dispute related to quality control. Marriott declined to comment on the failed deal.