Megaworld opening 4 new hotels in 2017

January 11, 2017

Megaworld opening 4 new hotels in 2017

MANILA, Philippines – Andrew Tan-led Megaworld Corporation is set to open 4 new hotels this year, adding 1,662 more rooms under its portfolio and maintaining its position as one of the leading hotel operators in the country.

The property giant told the local bourse on Wednesday, January 11, that it will open the Marriott Courtyard Hotel at the Iloilo Business Park and the Savoy Hotel Boracay at Boracay Newcoast by the first half of 2017.

It will also open Savoy Newport Hotel at Newport City and Hotel Lucky Chinatown in Binondo, Manila by the second half of the year.

“Within the next 3 to 5 years, we hope to see a bigger slice of hotel earnings in our revenue pie as we open our new hotels,” Kevin Tan, Megaworld senior vice president, said in a statement. (READ: Megaworld to build more malls, office buildings in PH)

The 15-storey Marriott Courtyard Hotel at the 72-hectare Iloilo Business Park township in Mandurriao, Iloilo City, will offer 326 rooms. It will be the first Marriott brand to open in Western Visayas and is strategically located beside the iconic Iloilo Convention Center.

Last year, Megaworld announced it is adding the Savoy Hotel brand, alongside Belmont and Richmonde, to its portfolio of homegrown hotel brands.

The first Savoy Hotel to be opened will be the Savoy Hotel Boracay Newcoast, a 559-room resort hotel at the 150-hectare Boracay Newcoast development. The 6-storey hotel will feature the country’s first concert pool arena, which will be able to host events in a pool setting.

Meanwhile, the 11-storey Savoy Newport Hotel will offer 684 rooms and will add to the growing hotel offerings of the 24/7 leisure and entertainment complex of Newport City, which is the home of the renowned Resorts World Manila.

In Binondo, Manila, the 6-storey Hotel Lucky Chinatown will offer 93 guestrooms and will mainly cater to Chinese tourists and businessmen.

To date, Megaworld is operating 3 Richmonde hotels in Eastwood City, Ortigas, and Iloilo Business Park; and one Belmont hotel in Newport City. Three more hotels under its portfolio are scheduled for completion within the next 5 years in various townships.

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