Improved prospects seen for PH hospitality sector
MANILA - The country’s hotel and gaming sectors are showing no sign of slowing down as they are driven by the continued influx of tourists.
Current data from the Department of Tourism show that total visitor arrivals for the first four months of this year reached 1.697 million, 2.85 percent higher than the same period last year.
It is for this reason that the gaming sector has been very active in attracting visitors to fill up its casinos, according to Pinnacle Real Estate Consulting Services Inc.
To accommodate the new arrivals, especially the gamers, Pinnacle added that the hotel sector has been expanding the country’s room inventory.
An estimated 4,000 rooms will be completed this year, of which 1,624 would come from accommodation facilities building up in Philippine Amusement and Gaming Corp. Entertainment City.
These include the Belle Grand-City of Dreams, which is expected to be opened any time soon with 920 rooms, as well as Radisson Hotel with an inventory of 500 rooms, Pinnacle said. In November 2014 Malaysian hospitality brand Tune Hotel will be opening a 200-room branch in Aseana City, near the Entertainment City, bringing its network of branches in the country to 10 and a total investment of $220 million over the last two years.
Pinnacle said that “existing hotels have been enjoying increasing rates due to record-breaking tourist arrivals the past years.”
The consulting firm added that five-star hotels will still continue to charge north in terms of room rates at $300 per night on the average, as four-star hotels have already breached the $250-per-night mark.
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