[ bworldonline.com ]
“Normally, a newly-opened hotel has 40-45% occupancy rate and if you are lucky it will normally take you a year to break even. It only took us two months to break even in terms of cash flow and we are also enjoying a record-breaking 79% occupancy rate,” Bai Hotel Vice-President for Operations and General Manager Alfred M. Reyes said during the hotel’s official launch last Nov. 23.
Mr. Reyes said about 61% of their guests are from overseas, with majority from South Korea, followed by Japan, United States and Taiwan.
“India is another big market for the Philippines next to China although there is a challenge when it comes to visa issuance for the Indians,” he said.
The 23-story Bai Hotel has 668 rooms with 10 classifications from deluxe to presidential suite. It houses a casino, a convention center, executive club lounge, and fitness center, among other amenities. A shopping arcade will soon be built in front of the hotel.
“We aim to be a four-star hotel and we can compete with any international hotel given our facilities and services,” Mr. Reyes said.
Bai Hotel has partnered with World Hotels.
Mr. Reyes said Cebu is still best known as a leisure destination but the hotel is positioning itself as a “bleisure” (business and leisure) destination given its location in Mandaue City, which is an upcoming business district.
“Hopefully by next year, we shall have plans of expanding… its either Visayas or Palawan,” he said.
For the long-term Mr. Reyes said they are also looking at other areas like Davao and Cagayan de Oro, two of the main cities in Mindanao. — Carmencita A. Carillo
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