Top developer partners with international hotel group to open first Novotel Suites
After scoring development coups in the local real estate landscape, real estate developer Century Properties Group, through its subsidiary Century Limitless Corp. (CLC), is embarking on what it considers as the next frontier in the sector — leisure and hospitality. CLC has partnered with AccorHotels to build its first ever hotel project, Novotel Suites Manila at Acqua.
“This project plays a significant part in the company’s thrust to push towards the allied sectors of real estate development, which are leisure and hospitality. We made sure to do this right by partnering with a globally trusted name in hotel management. With that, we are confident about the project’s quality and competitive edge, as well as its ability to serve the country’s fast growing tourism sector,” said Tim Hallett, chief operating officer of Century Hospitality and Leisure, Inc.
Patrick Basset, chief operating officer for Accor AccorHotels Thailand, Vietnam, South Korea, Cambodia, Laos, Myanmar, and the Philippines, said: “We are excited to join hands and collaborate with Century Properties to develop a Novotel Suites hotel in the Philippines and appreciate the trust they have in our hospitality expertise. Once complete, this all-suite hotel will combine the latest design and innovation to create a perfect hotel for leisure, business and long stay guests looking to stay in the proximity of Makati.
Novotel is a four-star international brand for business and leisure travelers, with 414 hotels and 79,220 rooms located in major international cities, business districts, and tourist destinations in 61 countries worldwide. As a member of the Novotel family brand, Novotel Suites offer suite-type rooms that are spacious and can be adapted into a working area or reception room. The rooms come with a kitchenette, separate toilet and washbasin from the bathroom, high-speed Internet access, and amenities that cater to all types of guests and for all lengths of stays.
The tower will rise 41 storys high and will be the sixth and last tower of Acqua Private Residences in Mandaluyong City. It will be located right across Makati City via the Estrella-Panteleon Bridge.
Novotel Suites Manila at Acqua is a multi-product property that introduces a hybrid of hotel suites, residential units for full-ownership, and preferred shares as fractional ownership units.
The 41-storey tower will be divided into two distinct areas. There are approximately 149 units of residences available for full residential ownership in the tower and 310 Novotel Suites. Century reveals an innovative twist in the project as fractions of hotel units will be sold as preferred shares under the Century Fractional Ownership Program by Century Acqua Lifestyle Corp. (CALC), a wholly-owned subsidiary of CLC. The remaining hotel units will be retained by CLC.
“Through Novotel Suites Manila, we are introducing to the country the concept of fractional ownership for a hotel real estate property. This gives the subscribers of the preferred shares a number of usage nights in the hotel in a year with the remainder of the fractional being leased out. Owners will then be able to enjoy the benefit of a financial return on the lease,” explained Hallett, who is also the Chairman of CALC.
The first of its kind in the Philippines, the Century Fractional Ownership Program allows the purchase of preferred shares of CALC. Preferred shareholders under the program are entitled to customized luxury vacation and business stays in units owned by CALC in Novotel Suites Manila, the option to enjoy multiple vacation destinations worldwide, hassle-free property management, and an annual return from the lease of the hotel units.
This fractional ownership model is different from a timeshare scheme, which usually comes without ownership and is limited to the usage rights of the property.
As an added benefit, shareholders get a one-year Interval International Gold Membership, an independently operated exchange company based in Miami, Florida, which allows for hotel stay exchanges at its affiliated properties in different parts of the world. Preferred shareholders will also enjoy an Accor Plus membership. Under this program and subject to membership terms and conditions, a shareholder will be able to enjoy exclusive accommodation and dining benefits at over 500 Accor hotels and resorts throughout the Asia Pacific Region. Participating countries include China, Singapore, Hong Kong, Thailand, Australia, Vietnam, South Korea, Malaysia, Philippines, New Zealand and Indonesia.
Unit types for the hotel suites and fractional ownership suites include the Studio, Deluxe, Premier and Superior, with sizes ranging from approximately 31 to 87 square meters.
The tower’s shared amenities include a grand lobby, reception, restaurant bar and café, gym and fitness center, swimming pool and deck, lounge, a business center, and a spa.
Novotel Suites Manila at Acqua is targeted for completion in 2019.
Source: The Daily Tribune
| September 1, 2015
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