Seda Hotel, a subsidiary of Philippines real estate company Ayala Land is poised to invest between PHP8 billion and PHP10 billion to beef up its portfolio over the next two years and meet the growing demand for hotel rooms across the country.
“With 1,863 rooms now in our portfolio and having achieved most of our annual targets, we are confident that our goal of building 1,405 more rooms in the next two years to hit our target of 3,268 rooms by 2020 is achievable and will be positively received by the market,” Seda group sales of director and marketing Melissa Carlos said in a press briefing in early December.
Carlos said Ayala Land’s homegrown hotel brand Seda is set to launch next year a second tower in Bonifacio Global City (BGC) with 342 rooms; Seda Residences Makati with 293 rooms, and Seda Cebu IT (Information Technology) Park with 214 rooms.
In 2020, Ayala will complete Seda Manila Bay in Aseana City with 350 rooms, and a second tower for Seda Nuvali with 206 rooms, she said.
“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 (Meetings, incentives, conferences and exhibitions) market and weddings in addition to business and leisure,” she said.
In an interview, Carlos said the robust economy and buoyant levels of investment coming into the country are boosting demand for rooms nationwide.
“If there are demand for offices within the city, it means that there are a lot of business travelers coming in. Like here in BGC, a lot of companies are moving here or setting up offices, so the demand is really strong. Same for Makati, which is our CBD (central business district). Cebu is a very established property, (demand in) Davao is also strong,” she said.
Carlos also cited the strong leisure market, both domestic and international.
“The Philippines is becoming a very, very strong destination in terms of the leisure market internationally. We are getting a very, very good reputation in terms of the natural attractions of the country,” she added.