Major property developer Ayala Land Inc. earmarked P10 billion to expand the portfolio of its homegrown hotel brand to 3,268 rooms by 2020.
Seda group director of sales and marketing Melissa Carlos said in a press briefing the company was set to open five hotels over the next two years that would add another 1,405 rooms.
Seda Hotel is set to launch next year a second tower in Bonifacio Global City with 342 rooms, Seda Residences Makati with 293 rooms; and Seda Cebu IT Park with 214 rooms.
The group will complete Seda Manila Bay in Aseana City, Parañaque City in 2020 with 350 rooms and a second tower for Seda Nuvali with 206 rooms.
“We are also expanding into new categories such as serviced residences, resorts, and large city formats as part of our efforts to tap the MICE market and weddings in addition to business and leisure,” Carlos said.
Seda currently has 1,863 rooms under its portfolio from nine properties, namely BGC, Cagayan de Oro, Davao City, Nuvali in Laguna, Iloilo, Quezon City, Bacolod, Cebu and Lio Tourism Estate in El Nido town, Palawan.
Seda initially focused on serving the needs of business travelers with boutique city hotels with less than 200 rooms. Carlos said it recently ventured into large format city hotels with Seda Vertis North in Quezon City which has 438 rooms, and into resort hotels with Seda Lio with 153 rooms.
Carlos said the brand’s flagship Seda BGC had been so successful that expansion was now underway that would add 342 more rooms in a second tower, including 48 serviced residences ranging from studios to two-bedrooms.
“We knew as early as our first year of operation that Seda BGC would need an expansion sooner than later,” she said.
Studies show that BGC in 2018 showed the highest demand among Metro Manila business areas following a net office take-up of 33 percent as of the third quarter.
It was followed by Quezon City at 26 percent, where Seda Vertis North is serving the market; and the Manila Bay area or Bay City at 12 percent, where the hotel hopes to tap the market by 2020.