Posted on October 11, 2015 10:39:00 PM [ BusinessWorld Online ]
By Krista A. M. Montealegre, Senior Reporter
ROCKWELL Land Corp. is partnering with global hotel chain Marriott International, Inc. to expand its hotel and leisure business amid upbeat tourism growth prospects.
Rockwell Land President Nestor J. Padilla told reporters on Friday night the company is acquiring a beachfront property in Mactan Island, Cebu that may be part of the Autograph Collection Hotels.
The Autograph Collection is Marriott International’s chain of independent hotels.
“What’s nice about the Autograph Collection is you keep your name unlike other arrangements that you have to call it Ritz-Carlton, JW Marriott or Four Seasons. The Autograph Collection allows us to call it Aruga,” Mr. Padilla said.
The Lopez-owned property developer operates serviced apartments under the Aruga brand within its Edades Tower and Garden Villa development in Rockwell Center, marking its maiden foray into the leisure and hotel business.
“It will be managed by them but we keep our name so we can build the brand and that’s what we will bring to Cebu once we finalize our negotiations,” Mr. Padilla said.
Last year, Rockwell Land rolled out its first venture outside Metro Manila with the launch of 32 Sanson, a 3.2-hectare (ha) development composed of five mid-rise residential towers in Lahug, Cebu City.
“We’re bullish with Cebu. We’re bullish with the (new) airport. At this point, we want to make sure we have the right development,” Mr. Padilla said.
Rockwell Land is also developing an Aruga hotel in Rockwell Center, he added.
Meanwhile, the property company unveiled the fifth and final tower of the Proscenium, a mixed-use project rising on a 3.6-ha lot previously owned by Colgate-Palmolive Philippines.
Rockwell Land expects nearly P11 billion in sales from the Proscenium Residences, Mr. Padilla said. It is scheduled for turnover by 2019.
At 59 storeys, the Proscenium Residences is the tallest of the five luxury residential towers within the enclave and hosts a mix of 100 studio units, 122 one-bedroom units, 241 two-bedroom units, and 100 three-bedroom units.
Rockwell Land is also bringing the Lopez Museum -- which has an archive of books, manuscripts and maps -- to the Proscenium.
The Lopez Museum, currently located at the Benpres Building in Ortigas, has a collection of paintings by old masters Juan Luna and Félix Resurrección Hidalgo as well as works by National Artists including Carlos “Botong” V. Francisco, Vicente S. Manansala, Hernando R. Ocampo, Cesar T. Legaspi and Arturo R. Luz.
Shares in Rockwell Land added three centavos or 1.91% to P1.60 apiece on Friday.