Alliance Global to expand hospitality business
ALLIANCE Global Group, Inc. (AGI) is set to expand its hotel operations by adding about six new locations to its portfolio by 2028, the company said over the weekend.
“AGI remains to be the biggest player in the Philippine tourism sector, with the largest array of international and home-grown hotels at varying price points to cater to all types of tourists and visitors,” AGI Chief Executive Officer Kevin Andrew L. Tan said in a media release.
“With the surge in domestic and international tourism activities, all our hotels have been experiencing high occupancy rates and much-improved average daily room rates,” he added.
In the media release, the company said that through its subsidiary Megaworld Corp.’s hotel and resorts brand, it will add 11,000 room keys spread across six new hotels located at its various townships in the country.
It said the move is driven by its aim to “solidify its market dominance in the country’s fast-growing tourism sector being the largest hotel developer and operator in the Philippines.”
The new hotels will be located in Parañaque City; Laguna; Bacolod City in Negros Occidental; City of San Fernando in Pampanga; Boracay Island in Malay, Aklan; and San Vicente in Palawan.
Megaworld earlier said that it had allocated P350 billion for its capital expenditure in the next five years to expand its township footprint.
It plans to capitalize on increasing tourism in the country by expanding its meetings, incentives, conventions, and exhibitions (MICE) activities by building more hotels as well as MICE facilities such as convention centers in key cities within the next few years.
Meanwhile, AGI said earlier that through its unit Travellers International Hotel Group, Inc., it was looking to expand its resort and casino business outside Metro Manila.
Mr. Tan said that the company is looking at key tourism hubs across the country as potential expansion sites for its integrated resort business.
The company earlier disclosed that it would acquire full ownership of Travellers International after a share purchase agreement between Star Cruises Philippines Holdings B.V., Asian Travellers, Ltd. and Premium Travellers Ltd. whose ultimate parent entity is Genting Hong Kong Ltd.
Travellers International is operating six hotel brands, five of which are in Pasay City, namely: Marriott Hotel (570 rooms), Hilton Hotel (352 rooms), Sheraton Hotel (350 rooms), Hotel Okura (190 rooms), and Holiday Inn Express (737 rooms). Its Courtyard by Marriott in Iloilo City has 326 rooms.
Meanwhile, Megaworld is operating 12 hotel properties across the country under its hotel and resorts brand.
AGI is engaged in property development, food and beverage manufacturing and distribution, quick service restaurants, and integrated tourism development.
The company’s subsidiaries are Emperador Inc., Megaworld, Travellers International, Golden Arches Development Corp., and Infracorp Development, Inc.
On Friday, AGI shars slid by 0.15% or two centavos to P13.24 apiece. — Adrian H. Halili
