MANILA, Philippines - Swiss upscale
hotel and resorts management company Movenpick Hotels and Resorts has partnered
with various investors for the development of five upscale hotel and resort
complexes in and out of Metro Manila worth around $350 million.
The first to be completed is the
Movenpick Residences Cebu, a mixed residential and hotel complex developed by
Oikonomos International Resources Corp. owned by logistics tycoon Manuel
Osmeña.
Another hotel and resort complex is
nearing completion in Palawan, while two would be built in Makati, and another
in a province, most likely in a prominent tourist destination.
Movenpick director for business
development Helmut Gaisberger said the four other properties have different
developers.
“We have several other projects but
these will be in the provinces. We are very interested in places where people
go to,” he said.
The Movenpick hotel in Coron, Palawan,
which is nearly finished was built like hotels in Maldives. It would have 82
villas and luxury amenities.
One of the Movenpick hotel and
residences in Makati, which will be built along Kalayaaan Avenue, would have
around 300 rooms and 300 private residences.
Gaisberger said the groundbreaking
would begin this week and the whole project would be finished in three years at
most.
The other hotel to be developed in
Makati would be located along Ayala Avenue.
Gaisberger said that despite the
numerous hotels already situated in Makati, it would take a long time before
Makati becomes a saturated market.
“Makati will take a long time (to be
saturated),” he said.
Movenpick and Oikonomos on Monday had
a ceremonial contract signing for the Movenpick Residences Cebu, for which
Osmeña is investing P3.5 billion to develop.
The residential and resort complex
which is located in Punta Engano, Mactan Island, would have three towers, a mix
of hotel rooms and private residences.
Currently for disposal are 66
fully-furnished condominium units with a floor area of 50 square meters to 99
square meters available in one and two bedroom model, all with balconies and
views of the sea. The residences are offered at P125, 000 per square meter
exclusive of value added tax (VAT).
The hotel and resort complex, which
has a French-Mediterranean design, has 246 hotel rooms and world-class
amenities.
Oikonomos and Movenpick tapped the
services of CB Richard Ellis Philippines as its marketing arm and advisor.
“We are seeing growth in cities like Cebu and
surrounding areas. Now is a good time for the hotel and leisure sector in the
Philippines. I cannot think of a better time to come in this partnership,” said
CB Richard Ellis Philippines founder and managing partner Rick Santos.
Osmena’s holding firm owns Sky
Logistics and Sky Kitchen, the logistics and in-flight food service provider of
Philippine Airlines.
Gaisberger said Movenpick is also
aggressively expanding in Asia because of improving economic prospects in the
region. Movenpick has 60 upscale hotels in 25 worldwide and is now expanding to
Turkey, United Arab Emirates and certain parts of Asia.
“We are a little late in coming to Asia but
better late than never. We are very aggressive in coming to Asia and I would
say that in two years’ time, we will have at least 25 possible locations,” he
said.
Santos said the Philippines is also
becoming a well-positioned market in Asia for the hotel business because of
lower real estate prices and better customer service provided.
Osmena said he is also helping
Movenpick in their expansion to Asia. Two Movenpick hotels are in the pipeline
for signing in China within the next two months.
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