Property developer Ayala Land Inc. (ALI) said it plans to extend the reach of its urban lifestyle hotel brand Seda by developing a more affordable format for the provincial market.
ALI president and chief executive officer Bernard Vincent Dy told reporters recently that ALI will expand its Seda brand “to another format for provincial expansions. It still has the same Seda feel, but with fewer function rooms and cheaper room rates.”
He said Seda hotels in Metro Manila have a lot of function rooms but the provincial version, which will be built within ALI’s developments in Iloilo and Palawan, will have fewer such rooms.
The provincial-type Seda will cost lower to build than the usual P800 million to P1 billion for a Seda Hotel in the metro, and will also offer cheaper room rates of less than $80 or P3,000 per night, compared with the standard P4,500 to P5,000 per night rate.
Dy said the 153-room Seda Iloilo will be launched soon while the 150-room Seda Palawan will be launched “within the next 12 months.”
Other than the provincial hotel units, ALI will also put up Seda hotels in three developments—Arca South (formerly Food Terminal Inc.) in Taguig City, Circuit City in Makati and Vertis North in Quezon City—as part of its plan to develop a portfolio of 4,000 hotel rooms by end-2015.
As of June, ALI’s Seda brand has four completed and operating hotels: Seda Bonifacio Global City at the The Fort; the 150-room Seda Centrio in Cagayan de Oro City; the 186-room Seda Abreeza in Davao City; and the Seda Nuvali in Nuvali, Sta. Rosa, Laguna which opened last May 19.
ALI said it is on track to meet its 20-percent growth target for revenue and net profit for 2014.