SM merges lifestyle, entertainment units
SM Prime Holdings Inc. has consolidated under one roof 12 major businesses related to lifestyle and entertainment solutions.
In a statement on Thursday, SM Prime announced the creation of SM Lifestyle Entertainment Incorporated (SMLEI), which would become its educational, sports and recreational arm. This new unit will house SM’s portfolio of brands related to movies, events and leisure.
SMLEI traces its roots to West Avenue Theatres Corporation (WATC), which carries the SM Cinema brand.
In a span of five years, WATC added brands like Snack Time, SM Tickets, e-Plus Tap to Pay and Mall of Asia Arena.
Now under SMLEI, added to the portfolio were the following: WM Cinemas, the operator of fully digitized screens in Walter Mart malls; SM Bowling Center, SM Skating Rink and SM Science Center in what the group describes as a “synergized circle of top-notch brands.”
Likewise among those folded into SMLEI were Director’s Club Cinema and IMAX Theatre.
SM Prime president Hans Sy said the creation of SMLEI was “an evolution grounded from WATC’s already impressive and accomplished credentials but with more enticing offerings under its sleeve.”
“With a bigger organization and 12 brands and growing, you can expect our nationwide reach and the great advantage of our synergy and as an organization under the SM Group,” SMLEI president Edgar Tejerero added. Doris C. Dumlao
