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Ayala Land to Open a Chain of Budget Hotels in Philippines
Ayala Land Inc., a property giant from Philippines, has announced the launch of a new hotel brand that will mark the company’s diversification and expansion to the market of affordable hotels. In all cases Ayala Land will act as a property developer.
After the shareholders’ meeting that had taken place last week, Ayala announced its new plans – the company will launch a new hotel brand in the budget segment with the average price tag of US$60 per night. This brand will offer hotel rooms almost two times cheaper than another brand of Ayala Land – Seda boutique hotels. Such a decision has been made in order to help the company to diversify its business, gain presence in different segments and establish new areas for growth.
The first “affordable” hotel by Ayala will open closer to this year’s autumn. This will be the recently purchased hotel in Muntinlupa. The “South Park District” once was a Nestle coffee factory. The hotelier also considers hotel projects in Bacolod and Iloilo.
A typical budget hotel by Ayala Land will have 150-200 guestrooms. By 2015, the company plans to expand its portfolio to 4000 guestrooms. 2012 was rather a good year for the company. It opened the 280-guestroom Fairmont hotel, the 32-guestroom Raffles Suites, and first two hotels under its own brand Seda. These were hotels in Cagayan de Oro and Bonifacio Global City. The two hotels added 329 guestrooms to the portfolio of the hotelier. Ayala Land also had some launches in the leisure travel segment. The real estate company opened 42 new villas on Pangalusian Island, the 348-guestroom Holiday Inn Suites hotel in Makati. This year the company also plans to open Seda hotels in Nuvali, Quezon City, and Taguig.
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