ILOILO CITY—SM Hotels and Resorts and Conventions Corp. (SMHCC) has allocated capital expenditures (capex) of P8.2 billion over five years to construct new hotels and convention centers, as well as renovate existing accommodations in its portfolio.
In an interview with select reporters at Tuesday’s opening of Park Inn by Radisson Iloilo, SMHCC Executive Vice President Peggy Angeles said the five-year capex from 2018 to 2022, covers the construction of Park Inns in Iloilo, SM North Edsa (to open by first half of 2019), Bacolod (third quarter 2020), and Baguio (2023); the expansion of its Clark property; and the construction of SMX Convention Centers in Santa Rosa in Laguna, Clark, Olongapo and Iloilo.
The Santa Rosa property will likely have a hotel as well, but Angeles declined to reveal the hotel brand under which it will operate.
The capex, sourced from “internally generated funds,” also covers the construction of a hotel cum serviced apartments at the Mall of Asia (MOA) complex, the recent renovation of the iconic Taal Vista Hotel in Tagaytay, and ongoing refurbishment of Radisson Blu in Cebu, Angeles said. She also declined to identify the company’s foreign partner, also a hospitality group, for the new four-star property at MOA.
Park Inn by Radisson Iloilo is the first hotel property of SMHCC “under a licensing agreement” with the Radisson Hotel Group (RHG), Angeles revealed.
“Like a franchising agreement, it allows us to operate and manage the hotel ourselves, but with access to RHG’s wide international network,” she explained.
But the agreement doesn’t bind SMHCC to build any number of hotels, she stressed.
“Moving forward,” the SMHCC official noted, this licensing agreement will likely be the company’s template when it builds or completes its next Park Inns. The company’s Park Inns in Davao, Clark, and SM North Edsa, as well as Radisson Blu in Cebu, are still being managed by the RHG. The Davao property was the first Park Inn of the Radisson Hotel Group (formerly Carlson Rezidor Group) in Asia.
The Iloilo hotel is located in a prime area next to SM City Iloilo in Mandurriao. It is just 25 minutes away from the Iloilo International Airport and strategically located near the city’s main commercial district, tourist attractions, museums and historical landmarks.
Angeles said the hotel is expected to benefit from the push of Iloilo tourism planners, to promote the city as a MICE (Meetings, Incentives, Conventions, Exhibitions) destination.
“Our facilities are geared toward MICE guests especially from the Western Visayas region,” she said.
The hotel’s main function room can accommodate a maximum of 100 guests, which makes it an ideal venue for small to mid-sized events, while an al fresco facility by the poolside caters to relaxing early-evening functions.
“We are elated with this new milestone in SMHCC’s growth. We are confident this new landmark in Iloilo will add to the city’s vibrant tourism landscape and set a new benchmark in hospitality in Panay Island,” Angeles said.
Park Inn by Radisson is a “friendly, fresh, vibrant and uncomplicated brand that focuses on delivering the modern essentials of a great hotel experience,” she underscored. It is an upper-midscale hotel brand that “delivers stress-free experiences, good food and upbeat environments.”
Considered a 3.5- to four-star hotel brand, Park Inn by Radisson hotels are usually located in capital cities, around economic and transit hubs, and conveniently situated near airports and railway stations. Guests and professional business partners are entitled to become members of Radisson Rewards, a global loyalty program offering exceptional benefits and rewards.
The hotel offers a vibrant ambiance and complimentary high-speed Internet for unlimited connectivity. Its all-day dining restaurant Ani provides a hip setting where groups can meet over exciting food and beverage options. Also available is Dash, a convenient self-serve section that offers busy travelers a variety of ready-to-eat choices that can be consumed on-the-go. “The Living Room” concept allows guests at the lobby to socialize and provides an intimate space for individuals who wish to unwind through reading or surfing the net. For recreation, the hotel has a gym as well as a swimming pool for both adults and children.
Established in 2008, SMHCC’s portfolio today is comprised of six hotel properties with a combined inventory of over 1,700 rooms and over 38,000 square meters of leasable convention space. Its other properties include Pico Sands Hotel, Conrad Manila, and SMX Convention Centers at MOA, SM Aura at the Bonifacio Global City, Davao, and Bacolod. The company also operates the Megatrade Hall in SM Megamall, Cebu Trade Hall in SM City Cebu and Sky Hall Seaside Cebu.
Shares of its parent firm, SM Prime Holdings Inc., closed at P39.40 each on Tuesday, slightly higher than Monday’s close of P39.05 each.
Image credits: Stella Arnaldo