Filinvest Group to increase hotel rooms to 5,000 in 5 years

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FILINVEST Development Corp. (FDC) aims to increase its hotel portfolio to 5,000 rooms in less than five years, according to a top company official.

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Josephine Gotianun-Yap, FDC president and chief executive officer (CEO), said that the 5,000-room target “is doable” given that the company already has 1,000 rooms available at present.

“We are very bullish about the tourism market and we’ve been able to do well with our brands. We have put together a team,” she said, adding that the 5,000-room target will include those at its luxury and value brand hotels.

Gotianun-Yap said FDC will be launching two of its seven value hotel brands next year, which will contribute 200 to 300 rooms per hotel to the target.

With the 1,400 to 2,100 rooms seen from the seven value hotels, Gotianun-Yap said they will have “3,000 plus rooms already,” aside from the other hotel luxury brands to rise in the coming years.

She said the firm has two luxury hotel brands: Crimson Hotel and Quest Hotel. At present, two properties bear the Crimson brand — one in Mactan, Cebu and one being constructed in Boracay — and one Quest Hotel in Mactan, Cebu.

Gotianun-Yap said that the company is looking at locations in Metro Manila for the Crimson Hotels in line with the firm’s developments.

“We’re looking at two locations for Crimson in Metro Manila. In Ortigas, we might put one. Also in Binondo. We still have some properties in Cebu for a different market segment, and also in Tagaytay,” she said.

Besides hotel rooms, the Filinvest Group is also expanding its portfolio of high-end condominium towers in the next few years with the P3.5-billion The Beaufort in Bonifacio Global City (BGC) as the first luxury condo development, which will be followed by one in Makati City and two to three other sites in BGC.

FDC saw a 9-percent increase in its first half net profit to P2.9 billion, and revenues for the period grew by 4 percent to P19 billion from P18.1 billion.

FDC is owned and operated by the Gotianun family, which has interests in property (Filinvest Land Inc.), banking (EastWest Banking Corp.), mall, theater and resort hotel (Filarchipelago Hospitality Inc. and Filinvest Hotels Corp.), sugar farming and milling (Pacific Sugar Holdings Corp.) and power generation (FDC Utilities Inc.).

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