LISTED property developer Megaworld Corp., through its hospitality arm Megaworld Hotels & Resorts, is planning to open seven new hotels by 2030 as part of its goal to expand its portfolio to 9,000 rooms.
The hotels targeted for opening include the 554-room Chancellor Hotel in Boracay Newcoast; the 404-room Belmont Hotel Iloilo in Iloilo Business Park; and the 300-room The Kingsford in The Upper East Bacolod, Megaworld said in a regulatory filing on Thursday.
Also slated for launch are the 304-room Savoy Hotel Palawan and the 313-room Paragua Sands in Paragua Coastown, San Vicente, Palawan; the 373-room Savoy Capital Town in Capital Town, San Fernando, Pampanga; and the 339-room ArcoVia Hotel in ArcoVia City, Pasig City.
“It is Alliance Global Group, Inc.’s (AGI) thrust to strengthen and streamline our hospitality portfolio as we look to attract and welcome more tourists, more conventions, and more events to our hotel developments,” said Kevin L. Tan, president and chief executive officer (CEO) of AGI, the parent company of Megaworld.
Megaworld Hotels & Resorts currently operates 13 hotel properties with around 6,000 rooms.
These include properties under the Richmonde Hotel brand (Richmonde Hotel Ortigas, Eastwood Richmonde Hotel, and Richmonde Hotel Iloilo); Belmont Hotel brand (Belmont Manila, Belmont Boracay, Belmont Mactan); Savoy Hotel brand (Savoy Manila, Savoy Mactan, Savoy Boracay); Hotel Lucky Chinatown; Twin Lakes Hotel; Kingsford Hotel Manila; and Grand Westside Hotel.
The company is also set to add 326 room keys to its hotel portfolio this year through the consolidation of the 15-story Courtyard by Marriott in Iloilo Business Park.
Within the year, Belmont Hotel Mactan in Cebu will transition into an Accor-branded international hotel, the Mercure Mactan Cebu.
Over the next five years, at least five more existing homegrown properties of Megaworld Hotels & Resorts will be rebranded under Accor, allowing the company to operate both homegrown and international hotel brands.
Earlier this year, Megaworld Hotels & Resorts tapped hotel chain Accor to elevate its domestic hotel portfolio.
“The inclusion of international hotels in our portfolio will further cement our position as the largest hotel operator in the country for both local and international hotels. Through this expansion program, we aim to continue to further grow and strengthen our contribution to the Philippine tourism industry,” Megaworld President and CEO Lourdes T. Gutierrez-Alfonso said.
Megaworld shares rose 2.45% or five centavos to P2.09 apiece on Thursday. — Revin Mikhael D. Ochave
