Alliance Global Group Inc. of billionaire Andrew Tan expects to have 11,000 hotel keys by 2028 and secure its position as the country’s largest hotel developer.
AGI said in a statement over the weekend the group aimed to grow its hotel portfolio, property unit Megaworld Corp. planning to build six major hotels over the next six years.
AGI chief executive Kevin Andrew Tan said the new hotels in the pipeline would rise in various cities and towns across the country. These include Parañaque City, Laguna, Bacolod City in Negros Occidental, San Fernando City in Pampanga, Boracay Island in Aklan and San Vicente in Palawan.
“AGI remains to be the biggest player in the Philippine tourism sector, with the largest array of international and home-grown hotels at varying price points to cater to all types of tourists and visitors,” Tan said.
He said with the surge in domestic and international tourism activities, all hotels of the group experienced high occupancy rates and improved average daily room rates.
The group, through subsidiaries Megaworld and Travelers International Hotel Group Inc., now operates 7,500 hotel rooms across its portfolio.
TIGHI owns and operates six hotels with Newport World Resorts, including Marriott Hotel (570 rooms), Hilton Hotel (352 rooms), Sheraton Hotel (350 rooms), Hotel Okura (190 rooms), Holiday Inn Express (737 rooms) and Courtyard by Marriott in Iloilo City (326 rooms).
Megaworld operates 12 hotel properties across the country under the Megaworld Hotels & Resorts brands.
AGI said the tourism industry is in a “strong recovery mode” from the pandemic.
It said as the economy continued to reopen, the tourism sector experienced a significant increase in discretionary spending for staycations, travel, leisure and entertainment and a resurgence in MICE (meetings, incentives, conferences and exhibitions) activities throughout the country.
Revenues from AGI’s tourism segment reached a record P38.6 billion in 2022, growing by 84 perccent year-on-year and exceeding the pre-pandemic 2019 levels by 10 percent.
“This segment has grown its importance within the group and now contributes over 20 percent of AGI’s business from its share of 15 percent to 16 percent about five years ago,” Tan said.