Hotel sector, infused by growth in tourism

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Property consulting firm Colliers International said that the stock of hotel rooms in Metro Manila will reach 21,532 by the end of 2014, as more property developers pour bigger investments into the country’s tourism sector.

The increase is expected to continue into the next years, with an average of 3,700 new hotel rooms to be turned over annually from 2014-2017.

This year, Metro Manila’s inventory of hotel rooms is expected to increase by up to 4,015 new hotel rooms, with the ongoing construction of the integrated gaming resorts in Pagcor Entertainment City, along Manila Bay.

Colliers released these projections in its second-quarter property report, which collates property developments across the Metro.

The report indicated that for the months of January-June 2014, only 20 percent of additional hotel rooms in the 2014 lineup had already been delivered; mainly by the following projects: Marco Polo Ortigas (313 rooms), Citadines Salcedo Makati (215 rooms), Azumi Boutique Hotel (187 rooms), and Tune Hotels Ortigas (182 rooms.)

Much of the inventory of hotel rooms is set for delivery within the second half of the year, with nearly 1,660 new rooms located in Parañaque City; namely in the new Pagcor City, and Go Hotels Parañaque.