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MANILA, Philippines – The country’s biggest property developer, Ayala Land Inc., will launch a new hotel brand that will cater to the low- to middle-income market segments.
Speaking at a press briefing on Wednesday April 17, Ayala Land President Antonino Aquino said the developer will launch a new hotel brand, catering to the $60/P2,500 per night market.
“It’s no different form what we’ve done in retail. We’re now getting to the broader market segment. Everything that we’re doing as an organization we’re having a representation in each market segment,” said Aquino.
Ayala Land said the new brand, which cannot be named yet, will target business travellers who can only afford a low price range.
Their other hotel brand, Seda, caters to the $120/P5,000 per night market.
“We hope to be able to ground break the affordable brand by 4th quarter of this year. Maybe in a year’s time it will be up and running,” said Aquino.
“Aside from going for the broader market, we’re going upscale and developing a suite product. The suite will have bigger rooms, 40 square meter room size,” Aquino added.
According to Executive Vice President, Bobby Dy, by the end of this year Ayala Land will have 2,000 rooms. This number will be increased to 4,000 rooms by 2015.
In December 2012, Ayala Land launched the first in a series of its Seda hotels in Bonifacio Global City followed by a second one in Cagayan de Oro.
In 2013, the company also has plans to build two more in The Abreeza, Davao and NUVALI projects that are scheduled to open in the first and last quarters of 2013, respectively.
Other hotels in Ayala Land’s portfolio include Raffles, Fairmont, Hotel InterContinental Manila, Cebu City Marriott and the 150 island resort rooms in Lagen, Miniloc and Apulit Islands in Palawan. The developer has also partnered with Subic Bay Development and Industrial Estate Corp. for the development of Anvaya Cove, a 320-hectare leisure complex in Bataan. The property firm also operates the 46-hectare Amara development in Liloan, Cebu. – Rappler.com
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