ANCHOR Land Holdings Inc. is building 1,000 hotel rooms over the next five years, driven by a bullish outlook on tourism, a company official said.
The target involves four hotels, Steve Li, Anchor Land chief executive officer, told reporters in a recent interview.
The four hotel includes the 126-room Admiral Hotel along Roxas Boulevard and three others Boracay, Palawan, and Tagaytay.
The Boracay and Palawan hotels are still under negotiation, Li noted. “We have to spot a few properties so it’s still in the negotiation stage. We cannot disclose that yet.”
Li emphasized that the company prefers to build new hotels in rather than buy existing establishments.
“Boracay . . . We are looking at our options, because we’re currently negotiating with an existing hotel owner and also available property.”
For the Tagaytay project, Li noted this is the first integrated development which will feature not only a hotel, but also residential and commercial components.
“That is one of the very big project so far. So we’re still in the final stage of fine-tuning the plan,” Li noted. “We expect to launch the project next year.”
“It’s really the first integrated one, because this is a resort type. So, instead of just pure residential, this is more of like a resort development, because we see a lot of foreigners are also looking for a retirement home in the Philippines. So, retirement home is no longer just a place. You also need to provide them with an environment and a lot of activities. So, this is where we are,” Li noted.
The ongoing infrastructure developments across the country are driving and growing the potential of tourism in the Philippines, he said.
“Ever since I think most people believe that Philippine tourism really has a big potential. It’s just that infrastructure is not yet ready. Right now over the last few years with the previous administration, suitable [infrastructure work]has been done, and we really see that great potential,” Li noted.
Infrastructure development is really raising the demand for quality hotels, according to Anchor Land.
“You will see that more and more airports are being built. We believe that distance is not going to be a problem anymore. Foreigners really are eyeing . . . quality hotels, so this is something that we will try to provide for them,” Li said.