Peninsula Hotel project in Yangon halted, reports Nikkei Asia

The Peninsula Hotel project was shelved due to the political situation in Myanmar and economic difficulties in Hong Kong, where the majority partner is based. - Eleven Media/ANN

YANGON: The Peninsula Hotel project in downtown Yangon has been shelved, according to a report by Nikkei Asia.

Peninsula Hotels, a luxury hotel group, was planning to build a US$130 million hotel in Yangon.