Ridgewood Premier Hotel is set to open its doors later this year just in time for the full return of meeting, incentives, conferences, and exhibitions (MICE), according to Novel Residential Concepts Inc. which will handle the hotel operations.
“Ridgewood Premier Hotel’s proximity to Bonifacio Global City (BGC) provides cost-conscious travelers and tourists with the convenience of a nearby hotel without the associated prohibitive costs. Once BGC becomes inundated with events, there’s a great chance that hotels and venues will hit full capacity. Having nearby establishments like Ridgewood Premier Hotel can address the accommodation requirements that companies and organizers desperately need,” said Marc Ngo, Novel chief operating officer.
Ngo added: “It also bodes well that Ridgewood Premier Hotel will open its doors in the fourth quarter, just as the regional economy continues to recover and tourism is back on the up trend.
Over 85 percent of the project has been sold.
Ridgewood Premier Hotel unit offers more affordable investment costs compared to nearby developments, Ngo said.
Investing in a unit purchase can guarantee a return of 6 percent per annum. The use of a unit for hotel activities can also net an additional 6 percent if hotel occupancy rates stay up. In 20 years, Ridgewood Premier Hotel can offer owners a buyout scheme with a guaranteed return.
MICE events are anticipated to increase in the country, especially in the business districts. As more and more businesses fully reopen, many companies are resuming their MICE activities that necessitate a trip to the Philippines. For most of these travelers, having a place to stay near their destination remains the ideal arrangement.
