Alliance Global Group Inc. (AGI) said it targets to have 11,000 keys in its hotel portfolio by 2028, as unit Megaworld Hotels and Resorts add up six new hotels.
“These new hotels will be located in various cities and towns across the country, particularly in Parañaque City, Laguna, Bacolod City in Negros Occidental, City of San Fernando in Pampanga, Boracay Island in Malay, Aklan, and in San Vicente, Palawan,” the company said in a statement.
The company did not disclose the brands which will operate these hotels or how much it is spending for the projects.
The projects will complement AGI’s 12 existing portfolio of hotels under Megaworld Hotels & Resorts brands, which include the Richmonde Hotels, Savoy Hotels, Belmont Hotels, Kingsford Hotel, Twin Lakes Hotel, and Hotel Lucky Chinatown.
Global-Estate Resorts, Inc. (GERI), which is part of the Megaworld Group, is also operating Fairways & Bluewater in Boracay, Aklan.
“AGI remains to be the biggest player in the Philippine tourism sector, with the largest array of international and home-grown hotels at varying price points to cater to all types of tourists and visitors. With the surge in domestic and international tourism activities, all our hotels have been experiencing high occupancy rates and much-improved average daily room rates,” said Kevin Tan, AGI chief executive officer.
Tan said that the Philippine tourism industry has been in a strong recovery since last year after reeling from the impact of the global health crisis which started three years ago.
“As the Philippine economy continued to reopen alongside most economies around the globe, the sector saw increased discretionary spending for staycations, travel, leisure and entertainment, and the resurgence in MICE (meetings, incentives, conferences and exhibitions) activities throughout the country,” he also said.
AGI closed 2022 with tourism-related revenues of P38.6 billion, up 84 percent and was also up 10 percent from pre-pandemic figures.
“This segment has grown its importance within the group and now contributes over 20 percent of AGI’s business from its share of 15 to 16 percent about five years ago,” Tan said.
