Responds to Philippines’ ever-growing tourism industry
In June, Century Properties Group Inc. (CPG) president and Chief Executive Officer Jose Antonio remarked on the potential of an ever-growing and booming Philippine tourism.
He said, “We view tourism as one of the low hanging fruits of the Philippine economy. The country has an abundance of tourist attractions, a rich culture, and natural propensity for service and hospitality. We believe that the tourism industry still has a lot of potential to catch up with powerhouses such as Thailand, Singapore and Malaysia.” (“Century Properties sees revenue doubling by 2020,” The Manila Times, June 23)
Determined to help the country progress in this industry, Antonio promised to allot P6 billion to P8 billion every year for the company’s tourism projects alone.
Echoing his father’s commitment, CPG Chief Operating Officer Marco Antonio, in a separate press conference for the lifestyle press, proudly presented their company’s first hotel project throughout its 29-year history—the Novotel Suites Manila.
Novotel Suites Manila—a brand under the internationally renowned AccorHotels group of companies—is a four-star hotel set to rise as the sixth and last tower of CPG’s Acqua Private Residences.
“We at CPG, through Century Limitless Corp., are proud to officially announce our strategic partnership with the Accor group of hotels for Novotel Suites Manila—backed by a healthy outlook of Philippine tourism and hospitality sector,” said the younger Antonio at the launch of Novotel at Century City Mall.
He added that Novotel, which will rise 41 storeys high with 149 residential units and 310 hotel suites in 2019, serves as CPG’s response to the influx of travelers to the country, as well as increasing tourism-related spending in the country.
Talking more about the exciting new venture between CLC and AccorHotels was Tim Hallet, chief operating officer of Century Hospitality and Leisure Inc. and chairman of Century Acqua Lifestyle Corp. According to him, what makes Novotel Suites Manila really competitive among others is its unique “Fractional Ownership Program” (FOP).
A first of its kind in the Philippines, FOP is a system that will allow customers to actually own a fraction of a unit in Novotel Suites Manila by purchasing preferred shares. The starting price of a unit under FOP is P2 million, which would entail a stay of 28 days per year at the hotel.
Besides having a hotel room when they want it, FOP also allows owners to lease their units and even benefit from an “annual financial return” without needing to maintain the unit, since Novotel would do all the work for them.
Moreover, a purchase of the 28-days entitlement in Novotel Suites Manila may be traded for any of AccorHotel’s more than 400 properties anywhere in the world. Buyers will also enjoy a core plus membership that will avail them perks like special accommodation or dining discounts.
As to who this type of ownership will cater too, Hallet answered, “This is a good investment option for foreign nationals who enjoy vacationing in the Philippines, as well as Filipinos who are based or working overseas and come home each year. It’s similar to having a home away from home.”
Of the 310 hotel units, about half will be dedicated to FOP. The room types include studio (30 to 34 square meters), deluxe (45 to 47 sqm), superior (67 to 70 sqm) and premier (87 sqm).
As part of the vertical residential development Acqua Private Residences, Novotel Suites Manila is situated in Brgy. Hulo, Mandaluyong City, along the Pasig River, and beside the Estrella-Pantaleon Bridge that goes to Makati City. For Hallet, the location is very strategic for all involved stakeholders as there is a scarcity of hotel in the said area.
And while Novotel Suites Manila is mainly a hotel, 149 of the total units of Novotel will be allocated for residences taking over the topmost floors.
Nevertheless, both residences and hotel suites will enjoy the property’s world-class and well-designed amenities including a grand lobby, reception, restaurant bar and café, gym and fitness center, swimming pool and deck, lounge, a business center, and a spa.
For more information, log on to century-properties.com.