Serviced apartments will provide visiting foreign executives more accommodation options and will likely boost the Philippines’ tourist numbers, hotel and resort firm Dusit International said.
Dusit cited research by real estate consultancy firm Colliers International, which said that foreign arrivals were up 8.15 percent year on year as of the first five months of 2015, as it pushed a serviced apartment development in Davao.
Tourism growth, Dusit said, underscores the need to improve the quality of Philippine destinations and accommodations, particularly in terms of providing a fully furnished apartment with hotel-like amenities but cheaper rates.
Dusit International is moving to provide travelers this option via the Dusit Thani Residences Davao, which it said would be its first ever serviced apartment venture in the Asia Pacific region.
The Davao project is scheduled to be completed in 2018. Other Dusit Thani Residences are located in Dubai and Abu Dhabi.
“The booming economy equals new businesses, which equals to more executives looking for efficient places to live in the central business districts in the Philippines,” Dusit development director Andrew Sparrow said.
He said an international executive traveler would most likely stay for at a week to a few months and would prefer accommodations that provide the comforts of home, have easy access to luxurious amenities and are ideally located near their workplaces.
“Serviced apartments are relatively new in the Philippines and this presents an opportunity to establish this kind of accommodation aside from hotels,” Sparrow said.
Davao’s increasing dominance as a key economic hub in the southern part Philippines, he said, presents an opportunity that Dusit wants to tap with the serviced apartment project.
“The location is strategic in two ways. First, the Residences are located in a major business hub south of the Philippines, which we see will help contribute to local investments and economic opportunities. Secondly, being situated within city limits allows our residents to create a productive and enjoyable work-life balance.”
“The units are actually for sale. This means that prospective buyers can, firstly, enjoy the luxurious services and amenities of the property and, secondly, earn from it through short-term leasing if ever they are not using the unit,” he added.
“Davao has a market that is ready for more high-end investments and accommodations, and we are confident that Dusit Thani’s experience and reputation will meet these discriminating expectations.”