Alliance Global to build 10,000 new hotel rooms in 6 years

Posted at 08/20/2014 10:50 AM | Updated as of 08/20/2014 11:24 AM
Alliance Global Group chairman Dr. Andrew L. Tan

MANILA, Philippines - Tycoon Andrew Tan's Alliance Global Group is building more than 10,000 new hotel rooms in the Philippines over the next six years.

Alliance Global Group chairman Dr. Andrew L. Tan said the company is aggressively expanding in the hotel business, with a total of 12,000 hotel rooms in its portfolio by 2020.

“By the year 2020, we envision our group to be the largest hotel developer in the Philippines, with a total portfolio of around 12,000 hotel rooms. These hotel rooms will be offered under 12 different local and global hotel brands. The global brands include Marriott, Hilton, Sheraton, Westin, Okura and Maxims,” Tan said.

At present, AGI has 1,900 rooms in its existing hotels -- Richmonde Hotel Ortigas; Eastwood Richmonde Hotel; Marriott Hotel, Maxims Hotel and Remington Hotel in Newport City; and Fairways and Bluewater in Boracay Newcoast.

AGI is planning to build around 10,000 new hotel rooms in Megaworld townships around the country in the next six years. The hotels will be developed by Megaworld and Travellers International Hotel Group.

This includes 2,000 rooms in Newport City; 2,800 rooms in Resorts World Bayshore City; 1,900 rooms in Boracay Newcoast; 2,700 rooms in The Mactan Newtown in Cebu; around 400 rooms in Iloilo Business Park; and more than 180 rooms in Twin Lakes, Tagaytay and other parts of Metro Manila.

"Once completed, our 12,000 hotel rooms can accommodate up to an estimated 2 million visitors per year. It is one way we can help the government achieve its yearly tourist targets," Tan said.

Earlier, AGI reported flat profits in the first half of 2014. AGI said its consolidated net profit for the first half was up 1.2 percent to P11.37 billion.