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This expansion is anticipated to generate nearly PHP250bn (US$4.39bn) in investments.
The Philippines.- A report by Leechiu Property Consultants has estimated that hotel investors plan to invest nearly PHP250bn (US$4.39bn) to construct 158 new accommodation facilities in the Philippines over the next six to seven years. The 2024 Philippine Accommodation Pipeline Report says this will create 40,084 new room keys and around 57,000 direct jobs.
The consultancy said several projects are associated with existing or upcoming casino resort projects. About 54 per cent of the pipeline will be constructed by the top 10 hotel developers in the country.
The leading developer in terms of construction will be DoubleDragon, which will add 4,324 rooms, followed by Megaworld Hotels and Resorts with 3,889 rooms, and Hann Philippines, which will build 2,850 hotel rooms.
Hann Philippines, the main entity behind the Hann Casino Resort, is working on the development of the Hann Reserve property, which will include three 18-hole courses, upscale hotels, villas, and residences. In December, construction of a Banyan Tree-branded hotel commenced at the site of Hann Reserve, and in July, it was announced that Hann Philippines signed a franchise agreement with IHG Hotels & Resorts (IHG) to launch an InterContinental hotel at Hann Resorts.
Leechiu Property Consultants also reported that between the final quarter of 2024 and the end of 2025, the Philippines is expected to welcome nearly 11,400 new rooms.
In Metro Manila, Parañaque City stands out among the other locations, according to the report, due to its connection to the gaming industry. Upcoming developments in the city include the Westside City Resorts, Hotel Okura Manila Bayshore, and Banyan Tree Manila Bay.
In Cebu City, the NUSTAR Resort and Casino soft-opened its doors in May 2022. The resort will eventually have three hotel towers. Tower 1 will be super high-end, Tower 2 will be five-star and Tower 3 will be for the MICE market. The final casino will have a total area of 21,000 square meters and will eventually include 1,500 slot machines and 500 tables.
See also: Tourism in the Philippines: 4.4m visitors in first nine months of the year
This expansion is anticipated to generate nearly PHP250bn (US$4.39bn) in investments. The Philippines.- A report by Leechiu Property Consultants has estimated that hotel investors plan to invest nearly PHP250bn (US$4.39bn)…
