Posted on November 01, 2011 10:24:20 PM [ BusinessWorld Online ]
ROBINSONS LAND Corp. (RLC) plans to build serviced apartments in Cebu and Mandaluyong City as part of its continuing foray into the hospitality business.
Bach Johann M. Sebastian, senior vice-president for corporate planning of JG Summit Holdings, Inc., the parent company of Robinsons Land, said the company is still studying the construction of the so-called Summit Hotels.
“They are all still under study,” he said when asked about the timetable of the construction.
Mr. Sebastian, however, said that the two might be built in Mactan, Cebu and Ortigas Center in Mandaluyong City.
“We are looking at the former Medical City property… [for] the Sonata Complex. The Sonata Complex has four towers, one of them will house a planned service-type apartment hotel,” he said.
He said the Summit Hotel would have at least a hundred rooms.
The other three towers in the Sonata Complex are residential condominiums Sonata Towers 1 and 2 and the 42-storey high-rise development The Allegro, which is expected to be finished by 2016.
The entire development sits on a 10,509-square meter lot along San Miguel Ave.
Last year, the company opened its first budget hotel called Go Hotel in Mandaluyong City, offering 225 rooms with sizes ranging from 16-22 sq.m each.
The company had said that it would be building 30 Go Hotels in the next five years.
The low-cost hotel is the fifth hotel property of Robinsons Land next to the 285-room Crowne Plaza Galleria Manila, 263-room Holiday Inn Galleria Manila, 210-room Cebu Midtown Hotel and the 108-room Summit Ridge Hotel Tagaytay.
In Cebu, the developer is building the 25-storey Azalea Place by Robinsons Residences which is seen to strengthen its presence in the province, where the company’s founders, the Gokongweis, are originally based.
This comes on top of earlier developments elsewhere in the province such as AmiSa, Aspen Heights, and Blue Coast Residences, which cater to different segments under various brands.
Robinsons Land, the property residential arm of listed JG Summit, is also into shopping malls and office space leasing.
As of September 2010, the company’s portfolio includes 29 shopping malls, 27 residential projects, seven office buildings, and five hotels.
Robinsons Land’s net income for the nine months ending in June this year rose by 18% to P3.048 billion from year-ago levels.
Robinsons Land affiliates also have interests in aviation and telecommunications. Robinsons Land shares went by 2.3% to P12.46 on Friday from its previous close.
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