Regional demand for leisure developments in the Bay City is seen driving further growth of the country’s tourism sector, Jones Lang Lasalle Asia Pacific said in a report.
The report noted that the integrated gambling and entertainment strip dubbed as the “Entertainment City” is now taking shape.
“These integrated casino resorts in Manila Bay and the Pasay area are attracting a new source of regional leisure demand and helping to transform the local tourism industry,” the report said.
Based on data from the Department of Tourism, inbound tourist arrivals for the first eight months of the year grew by 12.59 percent, from the 3,590,038 to 4,042,049 arrivals registered in the same period a year ago.
New hotels are also being developed to cater to the growing demand.
JLL noted that the hotel sector in Manila is expected to grow significantly in the coming years; an estimated 7,770 hotel rooms are due to open by 2020.
“The bulk of this new supply is planned for the Manila Bay area where several integrated resorts are being developed and the existing resorts are being expanded to attract more guests,” JLL said.
Among the upcoming hotels in the Bay City are The Manila Bay Resorts, The Westin Manila Bayshore with an estimated 600 rooms and Resorts World Bayshore City with 1,500 rooms.
In an earlier interview, JLL Philippines Head of Research, Consultancy and Valuation Claro Cordero Jr. noted the upcoming hotels in the Bay City are enough to cater to the expected influx of casino/gaming visitors.
“We think that while there are a number of hotel developments in the Bay City area, the existing supply has been projected to support primarily the casino developments. The earmarked future developments will have the projected catchment base market – the future growth of the casino/gaming visitors.”
JLL also expressed its optimism for the Metro Manila hotel sector.
“The city’s attractiveness to both the corporate and leisure markets combined with the government’s proactive marketing of the Philippines through its tagline “It’s more fun in the Philippines” and the “Visit the Philippines again 2016” campaign should support further growth in tourism and the hotel sector going forward,” JLL said.
Other soon-to-rise hotel developments in Manila include the Grand Hyatt Manila, Citadines Millenium Ortigas, Movenpick Hotel Makati, Marriott Hotel West Wing and Sheraton Hotel Manila.