Friday 19 January
Powered by Ajaxy
Apr 12, 2016 @ 18:20

Ayala Land to triple hotel rooms, bullish on tourism


Property giant Ayala Land Inc., led by bilyonaryo Fernado Zobel De Ayala, is ramping up its hotel portfolio to 6,000 rooms in line with its goal of hitting a net profit of P40 billion by 2020.

From only 2,324 hotel rooms as of the end of December last year, ALI’s hotel and resorts division plans to more than double its room count by adding 3,676 more to take advantage of the growing tourism industry.

Most of the rooms will be for the group’s homegrown Seda brand.

The group currently operates 1, 1,294 hotel rooms from its internationally branded segment — Hotel InterContinental Manila, Cebu City Marriott, Fairmont Hotel and Raffles Residences Makati and Holiday Inn & Suites Makati.

It also has 213 island resort rooms from El Nido Resorts in Lagen, Miniloc, Apulit and Pangulasian Islands in the province of Palawan, and 817 rooms from its Seda Hotels located in Iloilo, Bonifacio Global City, Taguig, Centrio Cagayan de Oro, Abreeza in Davao and Nuvali in Santa Rosa Laguna.

Revenues from hotels and resorts rose six percent last year to P5.97 billion, due to the improved revenue-per-available-room (REVPAR) of Fairmont Hotel and the Raffles Residences in Ayala Center Makati, Marriott in Cebu Business Park, SEDA hotels in Bonifacio Global City, Cagayan de Oro, Davao and Nuvali, El Nido Resorts in Palawan and opening of SEDA hotel in Iloilo.

REVPAR of hotels increased by one percent to P3,888 per night while REVPAR of resorts expanded by 13 percent to P7,557 per night.

Hotels and Resorts EBITDA margin was at 28 percent while average occupancy rate of the hotels registered at 73 percent while resorts registered at 58 percent during the period.

Tags: , , , , , , , , , , , , , , , ,

Related Stories
Five teams of experts will conduct the audit based on type of mineral and location.
Fastfood giant Jollibee Foods Corp. said it would contest the Department of Labor and Employment’s
Binondo-based property developer Anchor Land Holdings Inc. is embarking on a major expansion in 2018
Smart Communications Inc. said it remains committed to deploy fast and reliable internet connectivity in


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo -