Tourism in the Philippines is expected to grow by an average of around 5% annually to 2020 and its hotel sector is just beginning to boom.
Novotel are the latest international brand to seize an opportunity in the Philippines main resort destination of Manila, with its four-star hotel set to rise as the sixth and last tower of Century Properties Group’s mega-development of luxury condominiums, Acqua Private Residences.
International real estate researchers Colliers have reported that growing interest in the Philippines as a tourist destination and a business investment option has been driving hotel rooms rates to consistently increase in Metro Manila.
President and chief executive officer of Century Properties Group (CPG) , Jose Antonio remarked on the potential of an ever-growing and booming Philippine tourism.
” 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 and Century Properties sees revenue doubling by 2020, ” he stated to The Manila Times, June 23.
Novotel Suites Manila will become part of the internationally renowned AccorHotels Group of companies with Novotel branding and will stand 41 storeys high with 149 residential units and 310 hotel suites when completed in 2019.
The hotel will be the first offering a fractional ownership programme (FOP) in the Philippines, allowing investors to purchase preferred shares and buy into Novotel Suites Manila from an entry point of around €40,000.
The benefits to the investor include a 28-day stay in the luxury Novotel Suites each year which can be traded for any of AccorHotel’s 400 properties around the world, together with a membership that carries bonus opportunities such as special accommodation or dining discounts.
The Novotel Suites Manila has an attractive riverside location in the city centre which is currently not served by any other hotels. While the Novotel Suites will operate mainly as a hotel, 149 of the total units will be allocated to luxurious residences taking over the topmost floors.
Both residences and hotel suites will enjoy the building’s well-designed amenities including a grand lobby, reception, restaurant bar and café, gym and fitness centre, swimming pool and deck, lounge, a business centre and a spa.
Source:: Property show rooms