The SM Group will invest P7 billion over the next five years to expand its hotel and convention center business, an executive said Wednesday.
SM Hotels and Conventions Corp. senior vice president Peggy Angeles said the P7-billion budget would be used to build five new hotels and one convention center. Angeles disclosed the investment plan during the opening of Conrad Manila, a 347-room premier hotel at Mall of Asia complex in Pasay City.
Angeles said the planned investments would include a 200-room businessman’s hotel at SM North Edsa complex in Quezon City.
Angeles said SM Hotels would break ground for the new hotel in Quezon City in the third quarter, with completion expected after 30 months.
She said the company was also looking at sites in Pampanga, Cebu, Iloilo and Naga for the new hotels. The planned hotels will have an average size of 150 to 200 rooms.
SM Hotels president Elizabeth Sy said the company remained confident about the prospects for the tourism industry in the country. “Outlook for tourism industry is very positive with rising tourist arrivals.That is why are we are gung-ho with our expansion,’’ she said.
Sy said the 347-room Conrad Hotel was expected to be the one of the premier hotels in Metro Manila. “We are pleased to work with Hilton Worldwide in bringing the esteemed Conrad brand to Manila. Amidst the robust tourism outlook, the most anticipated opening of Conrad Manila will definitely be a game changer in the already exciting Philippine hotel scene,” Sy said.
“We look forward to a fruitful partnership with Hilton Worldwide in further elevating the hotel industry in the country,” Sy said.
Conrad Manila offers four contemporary event halls and two sophisticated ballrooms, spanning more than 4,000 square meters which are fitted with state-of-the-art audio and visual technology.
SM Hotels currently operates more than 1,100 rooms housed in the 261-room Taal Vista Hotel, in Tagaytay City, the 396-room upscale Radisson Blu Hotel in Cebu, the 154-room Pico Sands Hotel in Hamilo Coast, the 202-room Park Inn by Radisson in Davao and the 154-room Park Inn Clark in Pampanga.
Hilton Worldwide Asia-Pacific president Martin Rinck also expressed confidence about the domestic tourism market.
Aside from Conrad Manila, the Hilton group is also set to build two hotels under the Hilton brand. These are Hilton Clark Sunvalley Resort in Pampanga and Hilton Manila at Resorts World Manila in Pasay City.
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