The property was sold earlier this year by Singaporean state-backed conglomerate Keppel Corp. to hospitality investment firm Spring Blossom Ventures, which is also based in Singapore and will resume the hotel's operation on its own.
The five-star hotel sits across the street from buildings hosting Japanese companies and a large shopping mall.
Operation will resume under the same name, starting with 200 rooms. A 2015 expansion lifted the total number of rooms to nearly 800. Occupancy will be adjusted going forward, based on demand.
A billboard advertises the reopening of the hotel. (Photo by Nikkei)Keppel announced in March that it would sell the hotel for $57.4 million amid efforts to reconfigure assets to strengthen its environmental business.
International air visitors to Myanmar from January to September exceeded 880,000, according to Myanmar authorities -- roughly quintuple the year-earlier all-modes tally. Neighboring Thailand accounted for the most, with travelers from Russia also increasing.
Clashes between the military and armed groups are intensifying in Myanmar's regional areas. With domestic tourism destinations restricted, the hospitality industry is hoping for demand for "staycations," long popular among wealthy locals who stay at nearby hotels.
