Hotel of Asia Inc., the hospitality firm led by Mang Inasal founder Edgar Sia 2nd, eyes to generate more than P1.7 million a month in hotel bookings from Hotel 101-Manila, a company official said.
On the sidelines of the Hotel 101 Manila Media launch on Thursday, Hotel of Asia General Manager Lei Policarpio told reporters the target is a monthly average occupancy rate of 75 percent for the 518-room Hotel 101 Manila.
This would translate to more than P1.7 million in hotel room bookings at P4,500 per night.
So far, only 300 rooms of the new hotel are open for business, Policarpio noted.
“We’re sticking to a certain number. Right now, we’re sticking to 300, but if we’d like to open all 500, then we can,” he said.
In February, the Bay Area-based hotel had a soft opening and initially opened 120 rooms.
Since then the hotel has received strong demand, driven by the need for three-star accommodations in the area where most hotels are classified as five-star, Policarpio said.
“There were days when it was 100 percent occupied, there were days when it wasn’t. That’s how you start . . . a hotel,” Policarpio noted.
The hotel is opening all rooms later this month.
“Well, we have 518 rooms… And safe to say we have about 75 percent of the entire inventory and we can open the other 218 by the end of July,” Policarpio said.
The hotel expects to hit an occupancy rate of 75 percent by September.
“I’m sure we can achieve that by September, because September is when this area really peaks in terms of business and it dies down the following year around May,” the Policarpio said.
He noted a second is in the pipeline in Bonifacio Global City.
“We’re groundbreaking very soon this quarter. And that one will also be a Hotel 101 brand and will have around 600 rooms,” Policarpio said.
The firm targets 5,000 hotel rooms by 2020.
Hotel of Asia is a joint venture between Injap Investments Inc., Oishi Liwayway Marketing Corp., and Steineil Development Corp.