Ayala Land to triple hotel rooms, bullish on tourism
Property giant Ayala Land Inc., led by bilyonaryo Fernado Zobel De Ayala, is ramping up its hotel portfolio to 6,000 rooms in line with its goal of hitting a net profit of P40 billion by 2020.
From only 2,324 hotel rooms as of the end of December last year, ALI?s hotel and resorts division plans to more than double its room count by adding 3,676 more to take advantage of the growing tourism industry.
Most of the rooms will be for the group?s homegrown Seda brand.
The group currently operates 1, 1,294 hotel rooms from its internationally branded segment — Hotel InterContinental Manila, Cebu City Marriott, Fairmont Hotel and Raffles Residences Makati and Holiday Inn & Suites Makati.
It also has 213 island resort rooms from El Nido Resorts in Lagen, Miniloc, Apulit and Pangulasian Islands in the province of Palawan, and 817 rooms from its Seda Hotels located in Iloilo, Bonifacio Global City, Taguig, Centrio Cagayan de Oro, Abreeza in Davao and Nuvali in Santa Rosa Laguna.
Revenues from hotels and resorts rose six percent last year to P5.97 billion, due to the improved revenue-per-available-room (REVPAR) of Fairmont Hotel and the Raffles Residences in Ayala Center Makati, Marriott in Cebu Business Park, SEDA hotels in Bonifacio Global City, Cagayan de Oro, Davao and Nuvali, El Nido Resorts in Palawan and opening of SEDA hotel in Iloilo.
REVPAR of hotels increased by one percent to P3,888 per night while REVPAR of resorts expanded by 13 percent to P7,557 per night.
Hotels and Resorts EBITDA margin was at 28 percent while average occupancy rate of the hotels registered at 73 percent while resorts registered at 58 percent during the period.