Anscor continues to invest in tourism, healthcare ventures
Publicly listed A. Soriano Corp. (Anscor) is taking a cautious stance this year but it remains upbeat about its prospects in the tourism and healthcare sectors.
Company chairman and president Andres Soriano II said they have strengthened investments in the two sectors even amid the economic crisis.
"We have invested in new facilities and options at Amanpulo, supported by a modest placement in online hotel and resorts reservations business through Direct with Hotels," he said in an interview.
Amanpulo, a premiere resort in Palawan, is operated by unit Seven Seas Resorts and Leisure Inc. Last year, the company recorded revenues of P492.2 million from Amanpulo, whose occupancy rate has gone up to 64 percent from 57 percent.
The resort completed a number of facilities, including a second beach club, a new dive shop, and a sea sports activities center. It also added 31 new villa casitas, raising the number of casita rooms available to guests by 67 percent.
Soriano said they also increased investments in healthcare staffing through subsidiary Cirrus Group, a US-based nurse and physical therapist staffing firm.
"We do expect 2009 to be a very challenging year for the company and we have taken steps to weather the economic storm as judiciously as possible and at the same time, being alert for the opportunities that will arise from the turmoil," he said.
Aside from luxury resorts and offshore healthcare staffing services, Anscor also has investments in cable and wire manufacturing, aviation, wireless broadband data services, real estate, and education.
In 2008, the company posted a net income of P776 million, a 25.2 percent rise from the previous year's P619.8 million, as revenues jumped to P2.72 billion from P1.13 billion.
Anscor spent $6 million last October for a 20-percent stake in Enderun Colleges Inc., a hotel college that offers a full range of bachelor's degree and non-degree courses in the fields of hotel administration and culinary arts.