Philippines Positioned for Surge in Tourism

Colliers is recommending developers in the Philippines line up various hotel projects in order to capture the surge in local and foreign tourists. Dept of Tourism data showed the first 10 months of 2022 recorded 1.9 million arrivals, beating the full year target of 1.7 million. In the first half of 2022, Colliers recorded the delivery of about 830 hotel rooms in Metro Manila, up 58% year on year. From 2022 to 2024, they expect an annual average completion of 2,650 hotel rooms in the capital region, up from the average of 930 rooms delivered annually from 2019 to 2021. About 40% of the new rooms to be completed will carry a foreign brand, a reason why Colliers is emphasizing developers should explore the viability of partnering with foreign brands in order to maximize possible gain in customers. They also believe developers should explore developing fringe areas as well. From 2020 to the first nine months of 2022, they have seen aggressive launches in Manila, Mandaluyong, Pasig, the Makati Fringe, and the Caloocan-Malabon-Navotas-Valenzuela corridor. These submarkets accounted for about 47% of the total condominium take-up in the first nine months of 2022. Colliers recommends exploring the viability of fringe areas for more residential developments as the improved accessibility brought about by the upcoming Metro Manila and Makati Subway should help prop up demand for mixed-use projects in peripheral locations.

Alliance Global Group, Inc. will accelerate expansion plans in the Philippines as they bet on a second wave of spending with the expected opening of the Chinese economy. Leader Andrew Tan expects China to open up very quickly in the first half of 2023 and the Philippines will be able to take advantage of the second wave of revenge travel from over 130 million Chinese tourists that have not traveled since 2019. AGI plans to open hotels in new tourism areas and additional townships which are large scale integrated real estate developments as demand for office space continues to be there. Tan also believes the reopening of the Chinese market will be positive for the casino sector in the Philippines.

Philippines homegrown brand Seda hotels is bouncing back in the post-pandemic era and will soon add another 550 rooms to its portfolio by mid-2023. The Ayala Land chain has 11 hotel properties nationwide. They said revenge travel and the resurgence of business travel has prompted the addition of 200 more rooms to Seda Nuvali, a staycation and wedding destination in Laguna and the opening by mid-2023 of 350 rooms at Seda Manila Bay. By 2024, Seda One Ayala at the Edsa gateway to the Makati financial district is also expected to open at the former site of the InterContinental Manila.

The Clarks Hotels & Resorts strengthened its international footprint by opening Clarks Exotica Kamadhoo Maldives. They are aiming to promote the country to the rising domestic luxury and international travelers, as well as the MICE category. The brand is aggressively looking for expansion. The group also opened a luxury property in The Albatross Golf Resort, Kandy Sri Lanka. The property is located on the Kamadhoo Island, under the UNESCO-protected biosphere of Baa Atoll. The upscale property has 18 sea view rooms and one penthouse with a terrace providing 360 degree views of the crystal clear sea.

Fosun announced that on December 15, the Club Med Kiroro Peak in Hokkaido, Japan opened. That is the fifth Club Med resort newly opened this year. Fosun said that in the first three quarters of 2022, the business volume of Club Med has reached RMB9.135 billion, up more than 145.7% year over year. In the peak of winter travel from Christmas this year to February 2023, the bookings at overseas resorts have increased significantly compared with the same period last year with many resort rooms sold out during the Chinese New Year. Club Med’s nine resorts in China also have seen a significant increase in bookings and inquiries.

Radisson Hotel Group announced the debut of Park Inn and Suites by Radissonin India in Guruvayur, Kerala. The signing comes within a month of the brand’s launch in the country and further strengthens the group’s position in South Asia where it has over 100 hotels in operation in over 60 locations. This is the first signing as a part of Radisson Hotel Group’s strategic partnership with Ruptub Solutions Private Limited to develop a 150-hotel-strong network of Park Inn & Suites by Radisson in South and East India. The 91-room hotel is expected to open in the second quarter of 2024. It is strategically located near the Guruvayur Temple. The hotel will be equipped with a swimming pool, social spaces, a welcome corner, a fitness center, and more.

Espire Hospitality Group announced the opening of its first resort in Goa, Country Inn Tarika Goa, Varca Beach, just 200 meters from Varca Beach. The resort is located in the most scenic part of South Goa and offers 48 well-designed cottages, an all-day dining restaurant, pillarless ballroom, outdoor swimming pool and poolside restaurant and more. Espire is planning to add another resort in Goa under their luxury boutique resort brand ‘ZANA – Luxury Escapes’ in the near future.

ITC’s Fortune Hotels announced the opening of Fortune Walkway Mall Haldwani, pegged to be the first branded hotel of the city in the segment and the upscale hotel chain’s third hotel in the Indian state of Uttarakhand. The hotel is located on the high street of Haldwani, atop a premium mall. The hotel includes contemporary well-appointed and elegant rooms and suites that open into the lush green views of the scenic Himalayas. The hotel includes a spa, fitness center, plush club lounge and other amenities.

The Centrum, Lucknow has been declared a five-star hotel during the India Association of Tour Operators annual convention. The hotel has 116 rooms and suites, a lavish green lawn, swimming pool, gym, international level tennis court, basketball courts, squash courts and billiards rooms, as well as many outdoor and indoor activity areas.

Indian Hotels Company announced the signing of its first hotel in Vrindavan, Uttar Pradesh. The management contract is a greenfield project slated to open in 2026. The 120-key hotel is situated in Rukmani Vihar. Other facilities will include an all-day diner, swimming pool, fitness center and a spa. The hotel will also offer 730 square meters of banqueting space including meeting rooms and banquet halls. With the addition of the hotel IHCL will have 17 hotels across Taj, SeleQtions, Vivanta and Ginger brands across Uttar Pradesh including seven under development.

Personnel Move

Atour Lifestyle Holdings Limited announced Ms. Yisong Zhao has tendered her resignation as the company chief people officer due to health reasons.