THERE is a need for more upscale accommodations to meet the demands for tourists and business travelers in the Metro Manila area, according to a hotel official.
Roberto Alvarez Jr., president of Novel Residential Concepts told reporters in a recent briefing that there is a huge unmet demand in the long stretch of the main C-5 Road from the South Luzon Expressway (Slex) side in Taguig City all the way to Bonifacio Global City up to the Quezon City. In response, Novel Residential Concepts and C-5 Mansions Development Corp. have launched a partnership toward the development and management of an innovative hotel investment property a few steps away from SM Aura in BGC.
Alvarez said Aspen Hotel aims to fill a big gap in the market and will cater to businessmen, expatriates and Filipino families starting in 2022. Aspen Hotel will occupy the 14th to 19th floors of C-5 Mansions’ Ridgewood Towers Premier project, which is now under construction across the British and Korean embassies.
Moreover, he said the two companies are now seeking investors to enable them to join in Aspen’s development under an automatic hotel lease agreement. Alvarez stressed the project has a large potential because of the continuous growth of BGC. The hotel’s 186 units, comprised mainly of studio and one-bedroom units, are being offered to long-term investors starting at about P3.5 million each. This is already inclusive of the unit cost, fit-out cost and miscellaneous fees.
All units will be automatically fitted out and automatically leased out to Novel, which guarantees investors a minimum of 6 percent p.a. return to be paid out semiannually. Investors are also set to profit more if the hotel registers high occupancy rates via bonus rates at up to another 6 percent for a total of up to 12 percent return per year.
Alvarez said luxurious rooms have large-cut formats which offer the comforts and luxury of a hotel, thereby making guests feel right at home. The property will offer a polished and stylish look with a welcoming vibe that is translated not only by the rooms and amenities, but also by hotel staff that are ready to accommodate and provide assistance to guests.
To further ensure the comfort and convenience of its guests within a luxurious ambience, it will offer facilities such as private lobby, an all-day restaurant and function rooms for meetings at the second floor. Other leisure facilities include a lap pool, gym, kiddie playroom, a private theater/game room, and a sky garden with a sweeping vista of BGC.
At present, the management believes the daily rate of P3, 500 upon the hotel’s opening is bring in the visitors, as it is competitive with the other hotel properties in the area. “While of course the daily rate may change depending on the market conditions once we start operating in 2022, we are confident that our target market will enjoy the premium affordability that we are offering at Aspen Hotel vis-à-vis other hotel operators in and near BGC,” Alvarez explained.
“Our target with this partnership and project is to offer the best in Filipino hospitality to our local and foreign guests at the hotel, while offering a unique investment opportunity to investors who share in our vision to ride the continued growth and development of BGC,” shared C-5 Mansions Development Corp. General Manager Alfonso Keh Jr.