Megaworld Corp. is expanding its hospitality portfolio with six new hotel developments across key tourism destinations to grow its room inventory to about 9,000 by 2029, the company said Wednesday.
The new hotels will add close to 2,000 room keys to its existing portfolio, Megaworld said in a disclosure to the stock exchange.
“Our goal is to have more than 20 hotels and about 9,000 hotel rooms when we reach our 40th year within the next three years,” Megaworld president and chief executive Lourdes Gutierrez-Alfonso said.
“This will further help us unlock big opportunities and continue supporting tourism as a major catalyst of development and economic growth across the country,” she said.
Megaworld Hotels & Resorts, the company’s hospitality arm, will manage the upcoming projects. They include ArcoVia Hotel, Savoy Capital Town, The Hamptons Hotel, Paragua Sands Hotel, Savoy Hotel Palawan and The Kingsford.
Two of the planned hotels will rise within the 462-hectare Paragua Coastown, Megaworld’s first ecotourism township in Palawan. Megaworld said Savoy Hotel Palawan and Paragua Sands Hotel will offer more than 600 rooms combined and are expected to boost tourism in San Vicente.
