Ayala Land launches own hotel brand
MANILA, Philippines - Ayala Land Inc., through unit Ayala Land Hotels and Resorts Corp. (AHRC), is set to launch the first in a series of its Seda hotels in December.
The hotel, whose brand is wholly owned by Ayala, will be located at Bonifacio Global City, one of Manila's central business districts.
This will be followed by a second Seda hotel in Cagayan de Oro.
Seda Bonifacio Global City will offer 179 rooms, while Seda Centrio in Cagayan de Oro will house 150 rooms. Centrio is one of Ayala Land's mixed-use developments, which include offices and retail.
In the next 14 months, Ayala Land will add a total of 665 rooms, which will be spread out among 4 Seda hotels. Aside from the Bonifacio Global and Centrio hotels, the company will build two more in The Abreeza, Davao and NUVALI projects that are scheduled to open in the first and last quarters of 2013, respectively.
"There is such tremendous opportunity in the country’s flourishing foreign and domestic tourist industries. Our Seda hotel line is well positioned to capture more than its fair market share across various regions with our superior product and strategic location within Ayala Land’s mixed-use developments," said Al Legaspi, AHRC Chief Operating Officer.
These developments will come online as the Philippine’s booming tourism industry is set to grow. The Department of Tourism is looking at 10 million tourists in 2016. At the recent briefing on the Philippines’ third quarter gross domestic product (GDP) growth, economic officials said they are expecting the tourism industry to give the country's service sector a major boost in the next quarter.
Ayala Land has also been looking at opportunities to create new tourism developments in the Visayas region and is looking to shore up a landbank in the region within the next two to 3 years.
“We have some (of the land bank we need in the Visayas) but there are others that we are still working on. I think easily we should be talking about 1000 hectares or thereabout. We should be moving into that magnitude,” said ALI president Antonino Aquino at the sidelines of the recently held Asia Pacific Real Estate Investment Summit.
Ayala Land currently has 634 branded hotel rooms in Hotel InterContinental Manila and Cebu City Marriott, as well as 150 island resort rooms in Lagen, Miniloc and Apulit Island (formerly Club Noah) in El Nido in northern Palawan province.
Revenues from Ayala's hotel and resorts improved by 11% to P1.81 billion in the first 9 months, contributing to the conglomerate's P6.6 billion net income for the period. - Rappler.com