PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

Phinma to open 2 more Microtels

Posted on October 30, 2011 10:27:58 PM [ BusinessWorld Online ]

PHINMA CORP., encouraged by high sales, is looking to expand its Microtel Inns & Suites franchise further by putting up two hotels in Quezon City by next year, officials siad.

“There is one going up in Libis. The next one we’re aiming for is in the University of the Philippines-Ayala Land TechnoHub (UP TechnoHub) area,” Ramon R. del Rosario, Jr., Phinma president and chief executive officer, told BusinessWorld in a chance interview.

“We expect significantly higher revenues for Microtel this year,” he added without elaborating, noting Microtel’s strategy was to continue to provide five-star service at two to three-star prices.

Phinma holds the Philippine master franchise of US-based economy hotel chain Microtel Inn & Suites under Microtel Inn & Suites (Pilipinas), Inc. The international brand is on 300 properties worldwide catering to business and leisure travelers.

Microtel’s new Philippine hotels will firm up the chain’s presence in Metro Manila, in addition to the 150-room Microtel Mall of Asia branch which opened last year as the chain’s biggest hotel in the country.

Microtel Acropolis in Libis will have 84 rooms, while Microtel UP TechnoHub, will have around 50 rooms, said Marie Jehan Balbanero, Microtel Inns & Suites (Pilipinas) marketing communications manager in a separate telephone interview.

“The one in Libis is already under construction, having broken ground early this year. In TechnoHub, we’re waiting to finalize the terms of the lease. Hopefully, we’ll break ground before yearend,” Mr. del Rosario said.

This, as Phinma expects a robust yearend for Microtel on top of booming occupancy rates. “We’re having a very good year. Occupancy rates are quite high as we’re running an over-70% average occupancy rate for all nine opened properties,” Mr. del Rosario added.

The hotels’ brisk operations are driving the firm’s expansion plans, he said. “We’re quite pleased with our occupancy rates, that’s why we’re encouraged to do more,” Mr. del Rosario said.

At present, Microtel operates nine hotels in the country, particularly in Baguio, Batangas, Boracay, Cabanatuan, Cavite, Davao, Puerto Princesa, Tarlac, and Pasay City.

real estate central philippines
Copyright ©2008-2018