THE Philippine hotel industry is expected to see continuous growth in the next five years as top players and hotel brands pursue their respective expansion projects, according to the latest Market Insight report of Pinnacle Real Estate Consulting Services Inc.
Industry players continue to pursue their respective expansion projects. For instance, Pinnacle said Filinvest Group is beefing up its hotel portfolio and expects to reach 5,000 guestrooms by 2020 from 1,063 guestrooms at present in Alabang and Cebu.
The Filinvest Group’s Chroma Hospitality, which offers hotel management services, is investing P2.6 billion into a 228-room Canvas Hotel in Cubao and a 185-room Canvas Hotel in Mactan.
“Filinvest is also bringing to the market a Crimson Hotel in Boracay; Quest Hotels in Dumaguete and Tagaytay; Canvas Hotels and Resorts in Cubao, Mactan, and Cebu City; and a Serulyan condotel in Mactan.
These hotels will open between 2018 and 2019,” Pinnacle said.
“The Philippines is actually doing better than most countries in Southeast Asia,” Pinnacle said.
With the hotel sector marking such growth, a trade fair called the Hotel Suppliers Show is scheduled to take place on September 22-24, 2016 at the ground floor of the SMX Convention Center, SM Mall of Asia Complex, Pasay City.
This is our response to the volume of requirements needed by the domestic market – a one-stop shop sourcing platform to link up suppliers, developers, stakeholder, and buyers, said event chair Liza Hernandez.
“From the front desk to the back of house, to the kitchens, to the furniture, and to housekeeping, Hotel Suppliers Show has it all covered,” she said.
The show, a joint project of the Chamber of Furniture Industries of the Philippines (CFIP) and Global-Link Exhibitions Specialist Inc. (GESI), will bring together a comprehensive expo, Food & Beverage Suppliers Show, and Furniture, Fixtures & Equipment Philippines.
Some 200 exhibitors and 500 brands from top international and local companies will take part in this event.
Souce: The Manila Times | August 23, 2016
http://www.manilatimes.net/hotel-boom-likely-to-continue-five-years/281495/
