Listed property developer Robinsons Land Corp. (RLC) has firmed up its strategic partnership for its hotel expansion, securing a joint venture deal with the property arm of the Roxas Group as well as with franchisee Vanguard Hotels Pte Ltd.
In a filing with the Philippine Stock Exchange, RLC disclosed that it has created a joint venture agreement with the Roxaco Land Corp., the property development arm of Roxas and Co. Inc. Also, the company has sealed a deal with franchisee Vanguard Hotels.
The partnership, according to the Gokongwei-led real estate company, aims to build a minimum of five Go Hotels, the group’s value hotel chain, over the next two years in key strategic locations.
“Go Hotels is ramping up its expansion program as plans are underway for Robinsons Land to expand the brand all over the Philippines to respond to the national demand for quality accommodations at better prices,” the company informed the local bourse.
In October, RLC identified the locations where it will build the next three new Go Hotels it is planning to built within the span of a year. Specifically, the new hotels will be built at the Ortigas Center in Metro Manila, Iloilo in the Visayas and Butuan in Mindanao.
The establishment of three new branches, which is in accordance with the company’s planned expansion program, will bring the total number of rooms in the chain to over 1,200.
In 2010, RLC launched the first Go Hotels in the Philippines, the newest venture of its Hotels Division.
Go Hotels has six operational branches, offering a total of more than 700 rooms, situated in Mandaluyong City and Otis-Manila in Metro Manila, and in Tacloban, Dumaguete, Bacolod and Puerto Princesa.