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Peninsula Hotels' Myanmar project to resume depending on 'economics:' CEO

Recovery of tourist travel to China slowed by 'geopolitical tensions'

Hongkong and Shanghai Hotels, the operator of the luxury The Peninsula Hotels chain, suspended construction of a $130 million project in Myanmar soon after the military's takeover of the country in February 2021.    © Reuters

HONG KONG -- The operator of the luxury The Peninsula Hotels chain said Thursday that its stalled $130 million project in Myanmar has not been canceled and that a decision to resume it would depend on economic conditions.

The new hotel construction project in Yangon has been halted since June 2021, after the country's military toppled the democratically elected government in February of that year.

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