Why Century Properties
is joining the hospitality boom

Registered a 9.56% growth in foreign arrivals in 2013

The Philippines registered a 9.56 percent growth in foreign arrivals in 2013. The Department of Tourism (DOT) announced that the country welcomed a total of 4,681,307 foreign visitors last year, surpassing the 4,272,811 arrivals recorded in 2012 by 9.56 percent.*

Tourism’s contribution to the Philippines’ gross domestic product is expected to rise by 3.8 percent to P490.2 billion according to the World Travel & Tourism Council (WTTC).

Projecting a 4.4% annual increase in tourist arrivals from year 2010-2030

With the United Nations World Tourism Organization (UNWTO) projecting a 4.4% annual increase in tourist arrivals from 2010-2030 for emerging economies, the Philippine hospitality industry is poised to explode significantly in the coming years. The Southeast Asian sub-region posted the highest growth in tourist arrivals in 2011 at 10%, driven by intraregional demand.

Sources: *“More fun in PH: Tourist arrivals rise nearly 10% despite disasters”,
Philippine Daily Inquirer, February 14, 2014. ** “Travel and tourism to contribute
P490B or 3.8% to 2014 PHL output, says council”, GMA News Online, March

Increasing Demand Vs. Current Supply Of Quality Hotel Accommodations

High demand from visitors for better accommodations

Because more and more people are visiting the country, the demand for quality accommodation is increasing. Research suggests that we will cater to 30% leisure and 70% business travelers. It is critical that we provide excellent accommodation for these transient markets.

Demonstrable hotel growth outside of Makati City

Hotels are being established throughout Metro Manila precisely because of the country’s increasing tourism and business activity. The industry response to these market opportunities is palpable.

No recent branded hotel chain in Mandaluyong City

Since there has been no branded hotel in Mandaluyong for the last few years, the time is ripe for a world-renowned, best-in-class hotel with a name that assures quality, inspires confidence, and ignites the imagination.

Makati CBD’s recent supply of branded hotels only serves the UPSCALE MARKET.

There’s a big opportunity to bring in a BRANDED MIDSCALE HOTEL to serve the needs of business and leisure travelers in the city.

Increasing hotel room rates in Metro Manila

The Philippines as a tourist destination and a business investment option

Colliers reported that growing interest in the Philippines as a tourist destination and a business investment option has been driving hotel room rates to consistently increase in Metro Manila.

It pointed to the trend that average five-star room rates had grown by 3.7 percent to $333 per night in the second half of 2013, versus the 1.1-percent increase in the first half of that year. Four-star room rates increased slightly by 1.1 percent in the second half to $273 per night.

On the other hand, three-star room rates continued to improve significantly at 9.5 percent half-on-half, 250 basis points higher than the 7-percent growth posted in the last period. This can be attributed to the increasing number of local and foreign tourists seeking quality accommodation at affordable prices. Meanwhile, corporate rates grew considerably across all classifications at an annual average of 15 percent. ***

***”International luxury hotel operators gravitate to PH”
Philippine Daily Inquirer, March 1, 2014