Sy’s hotel expansion plans now focused on the mid-range market
SM Prime Holdings Inc. will start construction of a Park Inn Hotel in Iloilo City by the first quarter of next year.
The 200-room hotel, which will rise beside SM Iloilo, is expected to be completed over a two year period. It will form part of the planned SM City Southpoint
The move is in line with the group’s strategy to focus on the mid-range hotels market amid the country’s growing tourism market.
The SM Group plans to build more Park Inn by Radisson hotels to take advantage of the strong demand for such accommodation.
Hans Sy, director of SM Prime said the group was working on the masterplan for Southpoint, which shall include a business process outsourcing building in front of the mall.
Park Inn by Radisson is a midscale group of hotels that has 127 locations worldwide. Radisson Hotels is an international hotel company and a subsidiary of the Carlson Rezidor Hotel Group, which has a presence in more than 990 locations in 73 countries.