Luxury hotels discover Philippines
The Philippines are increasingly being targeted by high-end hotel chains due to an anticipated growth in tourism on the back of a fast growing economy, a report by C9 Hotelworks, a Thailand-based asset management and hospitality company serving the entire Asia Pacific region, indicates.
The firm noted that escalating room rates and strong occupancy rates are setting the stage for “dramatic future growth” of the sector.
The report points to an aggressive pipeline of growth and investment in the luxury sector, with a total of 5,797 rooms to open in the upper tier of the market over the next five years, representing a growth of 37 per cent. Overall average room rates already rose 6 per cent in 2011, while occupancy of luxury accommodation stood at 72 per cent during the same period.
These new or expanding hotels include international brands such as Raffles, Fairmont, Grand Hyatt, Shangri-La, Sheraton and Westin.
The Philippines, a country that has a lot to offer for tourists but did not tap the full potential of the sector yet due to a lack in touristic infrastructure and marketing, nevertheless experienced a significant upsurge in tourism income in the year 2011, according to data gathered by the National Statistical Coordination Board. The board reported in early December 2012 that a 10.2 per cent increase was incurred in 2011. 3.9 million tourists visited the Philippines in that year.
Tourism arrivals in ASEAN 2011
Malaysia 24.7 million
Thailand 19 million
Singapore 13.2 million
Indonesia 7.65 million
Vietnam 6 million
Philippines 3.9 million
Cambodia 2.85 million
Laos 2.7 million
Myanmar 816,000
Brunei 209,000
Source: National tourism authorities.
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[caption id="attachment_6081" align="alignleft" width="239"] The planned Fairmont Makati and Raffles Suites in Manila, Philippines[/caption] The Philippines are increasingly being targeted by high-end hotel chains due to an anticipated growth in tourism on the back of a fast growing economy, a report by C9 Hotelworks, a Thailand-based asset management and hospitality company serving the entire Asia Pacific region, indicates. The firm noted that escalating room rates and strong occupancy rates are setting the stage for “dramatic future growth” of the sector. The report points to an aggressive pipeline of growth and investment in the luxury sector, with a total of 5,797...
The Philippines are increasingly being targeted by high-end hotel chains due to an anticipated growth in tourism on the back of a fast growing economy, a report by C9 Hotelworks, a Thailand-based asset management and hospitality company serving the entire Asia Pacific region, indicates.
The firm noted that escalating room rates and strong occupancy rates are setting the stage for “dramatic future growth” of the sector.
The report points to an aggressive pipeline of growth and investment in the luxury sector, with a total of 5,797 rooms to open in the upper tier of the market over the next five years, representing a growth of 37 per cent. Overall average room rates already rose 6 per cent in 2011, while occupancy of luxury accommodation stood at 72 per cent during the same period.
These new or expanding hotels include international brands such as Raffles, Fairmont, Grand Hyatt, Shangri-La, Sheraton and Westin.
The Philippines, a country that has a lot to offer for tourists but did not tap the full potential of the sector yet due to a lack in touristic infrastructure and marketing, nevertheless experienced a significant upsurge in tourism income in the year 2011, according to data gathered by the National Statistical Coordination Board. The board reported in early December 2012 that a 10.2 per cent increase was incurred in 2011. 3.9 million tourists visited the Philippines in that year.
Tourism arrivals in ASEAN 2011
Malaysia 24.7 million
Thailand 19 million
Singapore 13.2 million
Indonesia 7.65 million
Vietnam 6 million
Philippines 3.9 million
Cambodia 2.85 million
Laos 2.7 million
Myanmar 816,000
Brunei 209,000
Source: National tourism authorities.
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