Monday, June 2, 2014

SM Prime to invest P2.5b in hotels

The SM Hotels and Conventions Corp has indentified five locations as future sites for hotel projects, including Iloilo City, Bacolod City, North Edsa in Quezon City, and Clark Freeport in Pampanga.

The SM Hotels and Conventions Corp has indentified five locations as future sites for hotel projects, including Iloilo City, Bacolod City, North Edsa in Quezon City, and Clark Freeport in Pampanga.

This is according to Elizabeth Sy, president of SM Hotels and Coventions Corp, who says  the estimated cost of each hotel project is about P500 million.

Currently, the company operates over 1 000 hotel rooms across five hotels, including the 261-room Taal Vista Hotel in Tagaytay City, the 204-room Park Inn by Radisson, which is located in Davao, the smaller Pico Sands Hotel at the Hamilo Coast with 154 rooms and the posh Radisson Blu Hotel in Cebu, which has 400 rooms.

Also currently under construction is the Conrad Manila, a five-star, 347-room hotel located within the Asia Complex. As the first Conrad Hotels and Resorts branded property in the Philippines, Conrad Manila is expected to open its doors by mid-year next year.

Much like the currently existing hotels under SM, the new hotel projects will be situated next to SM shopping malls. These hotels will be under the Radisson group hotels’ umbrella.

SM Hotel and Conventions Corp is also the operator of convention halls, including the SMX Convention Center, a popular venue for events both local and international.

Additionally, a new convention center will be opened by SMHCC in Bacolod in September later this year. 


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