Ridgewood Premier Hotel in Bonifacio Global City (BGC) is set to open its doors mid-2024 just in time for the increased demand for Meetings, Incentives, Conferences, and Exhibitions (MICE) venues.
“We are proud to announce that we are set to open Ridgewood Premier Hotel mid-year. We also now have two model hotel suites on site for the appreciation of property investors and aspiring hoteliers,” said Marc Ngo, Novel Residential Concepts Inc. chief operating officer.
Novel Residential Concepts, a boutique property developer, is the operator of Ridgewood Premier Hotel.
Novel Residential Concepts said with the pandemic years of 2020-2023 safely behind us, 2024 has hit the ground running.
Among Asia’s many MICE destinations, the Philippines is among the top choices and BGC stands out among the many excellent business destinations in the country.
Novel Residential Concepts said while BGC does have excellent facilities and great accommodation options, cost-conscious companies and organizations would want alternatives.
For example, conferences with over a thousand attendees will be sure to fill up nearby hotels. However, organizers and host companies will still need accommodation for their staff, specialists, and guests.
Novel Residential Concepts said Ridgewood Premier Hotel’s proximity to BGC – just 600 meters from SM Aura Premier on the C-5 main road – offers budget travelers, event organizers, and spillover attendees a convenient place to stay during their MICE activities.
While the property is outside the political boundaries of BGC but still close enough for a few minutes walk, guests can enjoy the convenience of the BGC lifestyle without paying BGC prices.
Novel Residential Concepts said Ridgewood Premier Hotel expects to take a good portion of many organizers’ working delegations.
According to Novel Residential Concepts, investing in a Ridgewood Premier Hotel unit costs less than similar properties in BGC.
Despite its strategic location and world-class construction, Ridgewood Premier Hotel units only cost way less than half the price of a comparable BGC unit on a per square meter basis.
This means that one can acquire a hotel-furnished 24.8-square meter (sq.m.) standard suite at approximately P3.5 million or 55.7-sq.m. two-bedroom hotel suite at only P7 million.
Novel Residential Concepts said this smaller investment outlay can lead to bigger and faster incomes. Buying a unit automatically guarantees an investor a minimum 6 percent rental income per year based on total investment.
With the automatic lease agreement, one also get up to another 6 percent bonus, based on the hotel’s occupancy rate.
In 20 years, unit owners can also opt to accept a buyout offer that also includes a guaranteed profit on one’s investment.
