Megaworld boosts hotel portfolio
Tycoon Andrew Tan-led property developer Megaworld Corp. will expand its hotel portfolio this year with the opening of four new hotels around the country, adding a total of 1,662 rooms in Iloilo, Boracay and Metro Manila.
The new hotel rooms to be opened this year will mark a 79-percent expansion of Megaworld’s hotel portfolio.
Megaworld is set to open the Marriott Courtyard Hotel in Iloilo Business Park and the Savoy Hotel Boracay in Boracay Newcoast by the first half of this year. By the second half of the year, it will open Savoy Newport Hotel in Newport City and Hotel Lucky Chinatown in Binondo, Manila, Megaworld told the Philippine Stock Exchange Wednesday.
The 15-story Marriott Courtyard Hotel in the 72-hectare Iloilo Business Park in Mandurriao, Iloilo City, will offer 326 rooms. It will be the first Marriott brand to open in Western Visayas. It is located beside the Iloilo Convention Center.
Last year, Megaworld announced the addition of Savoy Hotel to its homegrown hotel brands, alongside Belmont and Richmonde Hotels.
The first Savoy Hotel to open to the public will be the Savoy Hotel Boracay Newcoast, a 559-room resort hotel in the 150-hectare Boracay Newcoast development. The six-story hotel will feature the country’s first concert pool arena, which will be capable of hosting events in a pool setting.
The 11-story Savoy Newport Hotel will offer 684 rooms, adding to the hotel capacity of the 24/7 leisure and entertainment complex of Newport City, home of the country’s first privately operated integrated gaming resort Resorts World Manila.
In Binondo, Manila, the six-story Hotel Lucky Chinatown will offer 93 rooms. This will cater mainly to Chinese tourists and businessmen, and those who are on a historic tour of Manila.
“We see tourism as a potential driver of growth for Megaworld as we draw more people to our developments. Within the next three to five years, we hope to see a bigger slice of hotel earnings in our revenue pie as we open our new hotels,” Megaworld senior vice president Kevin Tan said in a statement.
