More Foreign Bands Expected to Increase Philippines Presence
Skift Take
Colliers Philippines advises local hotel developers to partner with foreign brands to capitalize on tourism growth and airport modernization in the country.
STR reported China hotel data for the week ended November 23. China Hotel RevPAR was down -2.7%. It was up against a +46.5% comp in the same week a year earlier. For the past week, ADR was down -2.9% while China hotel occupancy was up 0.2%.
Colliers Philippines’ latest market intelligence report suggests local hotel developers should explore further partnerships with foreign brands amid the expected resurgence of the country’s tourism industry. Colliers believes the hospitality sector would continue to benefit from the tourism segment’s rebound and the modernization of the country’s airports. Outside of Metro Manila, they see the opening of more foreign-branded hotels in major tourist destinations such as Cebu, Pampanga, Subic, Bohol, and Cagayan de Oro. The report said this is the best time for foreign brands to expand their presence in the country given the planned modernization of the co
