There are currently more than 10,000 new hotel rooms under construction in the Philippines.
According to a new report by TopHotelProjects, the nationwide pipeline of 10,713 rooms covers 37 hotel projects, making it one of the Asia Pacific region’s most active markets.
“In 2017, about 4,200 new hotel rooms are projected to be delivered,” commented Joey Bondoc, research manager at Colliers International. “With an estimated 10 million foreign tourists by 2020, up from 5.4 million in 2015, and increases in domestic tourism, firms are ramping up their developments to keep up with the influx of international visitors.”
TopHotelProjects noted that the luxury sector is likely to drive development in the Philippines in the coming years. Thirty-five new properties in this segment, currently either under construction or in the planning stages, are set to open in the next five years. These include the launch of Alila’s first property in the Philippines in 2019.
“The upcoming hotel projects are complemented by the opening of luxury retail establishments such as S Maison, which occupies two floors of the six-star Conrad Manila hotel, and the retail components of Solaire Resort & Casino and Shangri-La at The Fort,” Bondoc continued. “These developments reflect the substantial rise in tourist expenditures and demand for accommodation and entertainment options amid sustained economic growth.”
The report was prepared by TopHotelProjects for The Hotel Show Philippines 2017, which takes place from 2-5 August at the SMX Convention Centre in Manila.
Source: http://www.traveldailymedia.com/