Citing the high cost of operating in the Philippines, local hotels have asked the government to bring back tax incentives that were recently taken away by the Board of Investments (BOI).
The hotel industry, as a result of the Department of Tourism’s effort to attract more foreign visitors and stimulate increased activity of domestic tourists, is poised for a growth spurt this year.
Having the second fastest growing economy in Asia and a stable political environment, the Philippines experienced a surge in investments, particularly in the high end luxury sector of its hospitality market, according to a report by C9 Hotelworks. In a recent report, the hotel industry consulting firm noted that escalating room rates and strong [...]
What would be on the up-and-up the coming year? Inquirer Property continues the fearless forecast of the real estate industry for 2012:
