Posted on August 20, 2014 09:53:00 PM
[ BusinessWorld Online ]
CONGLOMERATE Alliance Global Group,
Inc. (AGI) has set a 2020 target for becoming the country’s largest hotel developer
with an intended portfolio of around 12,000 hotel rooms nationwide.
“These hotel rooms will be offered
under 12 different local and global hotel brands. The global brands include
Marriott, Hilton, Sheraton, Westin, Okura and Maxims,” Alliance Global Chairman
and Chief Executive Officer Andrew L. Tan said on Tuesday night at the
Philippines Property Awards 2014 at the Fairmont Hotel in Makati City.
At present, the group has built 1,900
rooms at the Richmonde Ortigas, Eastwood Richmonde, Marriott, Maxims and
Remington in Newport City, and Fairways and Bluewater in Boracay Newcoast.
The additional 10,000 rooms to be
built will be allocated as follows: 2,000 in Newport City; 2,800 in Resorts
World Bayshore City; 1,900 in Boracay Newcoast; 2,700 in The Mactan Newtown in
Cebu; around 400 in Iloilo Business Park; and more than 180 in Twin Lakes,
Tagaytay and in other parts of Metro Manila.
“Once completed, our 12,000 hotel
rooms can accommodate up to an estimated two million visitors per year. It is
one way we can help the government achieve its yearly tourist targets,” Mr. Tan
said.
By 2020, subsidiaries Megaworld Corp.
and Travellers International Hotel Group, Inc. will complete around 8,600 and
3,400 rooms, respectively.
The group has also downplayed
projections that its 18% market share in the residential segment will decline
to 14%.
“Definitely, we will not allow our
market share to go low or to be reduced not just to keep our leadership
position, but also because there is actual demand… (market share) will
definitely increase,” Megaworld Senior Vice-President Jericho P. Go told
reporters after the event.
“The advantage of Megaworld is that we
have the raw material, we have the land bank. We have properties in McKinley Hill,
McKinley West, Uptown Bonifacio. We are the largest single landlord in Fort
Bonifacio, because if you add all of those, it’s over a hundred hectares of
property for development in a very prime location,” he added.
Last week, the group said it is confident
that it can sustain its growth momentum, after reporting a 289% increase in its
first-half net profit, bolstered by non-recurring gains and strong residential
sales in Newport City, Uptown Bonifacio, McKinley Hill and Eastwood City, as
well as higher lease income from its office and retail portfolio.
Net profit for the first six months
hit P16.44 billion from P4.23 billion a year earlier, with P11.62 billion
coming from a one-time gain arising from asset sales.
Other subsidiaries of its parent company
Alliance Global include tourism estate firm Global-Estate Resorts, Inc.;
Emperador, Inc., the owner of Emperador Distillers, Inc.; and Golden Arches
Development Corp., the Philippine franchise holder for the McDonald’s brand. --
Daphne J. Magturo
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