(This is the second of a two-part property market outlook by Colliers Philippines) MALL OPERATORS should brace for more foreign and local retailers as consumer confidence and foot traffic pick up this year. Major mall developers have been reporting that consumer traffic has now reached between 85%-95% of pre-COVID levels in the third quarter of 2022 from only 40% a year ago....
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SINGAPORE-BASED hotel management and booking platform RedDoorz is eyeing an initial public offering (IPO) in the country by 2022. “I think, overall, the business goal of RedDoorz is to conduct an IPO… By 2022 or 2023, we should be on our way to creating our business which is publicly listed. That is the general vision,” RedDoorz founder and chief executive officer Amit Saberw...
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MASS housing developer 8990 Holdings, Inc. expects to generate P3 billion in recurring revenue from its venture into the luxury hotel business. In a statement issued Wednesday, the listed property developer said it has 10 new hotels and resorts in the pipeline until 2023. The projects will be undertaken by its newest subsidiary, 8990 Leisure and Resorts. The newly formed unit’s first d...
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HOTELS and resorts that will be participating in the Cebu Provincial Government’s tourism program Suroy-Suroy sa Sugbo will soon have their hospitality and accommodation services boosted to international quality standards. The Province has partnered with Oyo Technology and Hospitality, the world’s second largest hotel franchising chain, to help train personnel and improve amenities...
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April 01, 2019 Some P23 billion worth of investments in accommodation facilities are in the pipeline in the next two years as the hotel development industry catches up with the country’s booming local and domestic tourism. Samie Lim, chairman emeritus of the Philippine Franchising Association said 120 hotels are to be built to bring the number of rooms in the country to 100...
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More than 100 international hotel chains are expected to invest over P23 billion in the Philippines in the next three years, according to the Philippine Franchise Association. “Based on our estimates, there will be additional of at least 23,000 new rooms in the next three years. These will be more of the international hotel chain franchises. About 120 hotels will be built in the next thre...
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