Serviced apartments — fully-furnished apartments with amenities usually available in hotels — are becoming popular because of the growing need for accommodations in many parts of the Philippines.
With the upswing in the tourism industry, serviced apartments fill a need: a cheaper alternative to hotels, making it ideal for both short and long term stays, but with quality amenities for both business travellers and tourists.
According to Colliers International’s Second Quarter 2015 Research and Forecast Report on the Philippines, the number of foreign arrivals to the country grew in the first five months of 2015, with year-to-date 2015 figures representing an 8.15% rise from the same period in 2014.
“The booming economy equals new businesses, which equals to more executives looking for efficient places to live in the central business districts in the Philippines,” said Andrew Sparrow, development director for Dusit Thani Residences Davao.
“Serviced apartments are relatively new in the Philippines, and this presents an opportunity to establish this kind of accommodation, aside from hotels,” Sparrow said.
Choosing to establish outside Manila is intentional. The Colliers report also notes that the prevalence of direct flights from international locations to provincial destinations such as Cebu and Davao make stopping in Metro Manila unnecessary. This trend caters to a unique sector of the tourism market.
Sparrow stressed Davao’s increasing dominance as a key economic hub in the southern part of the Philippines. Being the country’s second largest and fastest growing city presents an opportunity for the entry of more international quality of accommodations and amenities.
