Memories Group Expands Myanmar Tourism Portfolio by Acquisition of Kayah Resort

  • Kayah Resort located in Loikaw, Kayah State, is a 26-key boutique hotel set to be repositioned as an upscale resort under Memories Group’s Keinnara brand
  • The deal is the second acquisition for the Group since its listing on SGX-Catalist in January 2018
  • The acquisition will be funded by cash and issuance of new shares
  • The new shares will be issued at a significant premium of 28%
  • The Group’s Integrated Tourism Platform now covers six of Myanmar’s major tourist destinations

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