Philippines Modest Project Pipeline Shows Reasons to be Optimistic [INFOGRAPHIC]
While the Philippines has so far avoided the growth sweeping the Asia Pacific region, the island nation has begun to show signs of life
While the Philippines has so far avoided the bombastic growth that has swept through the rest of the Asia Pacific region, elevating China into arguably the biggest hospitality market in the world while also bolstering the statuses of Australia, New Zealand, Indonesia and Japan, among others, the island nation has recently begun to show signs of life.
In fact, the Philippines project pipeline actually contains a good number of reasons for stakeholders in the hospitality industry to feel optimistic about the hotel market in the country moving forward, according to information from the TOPHOTELCONSTRUCTION database. In fact, at present the Philippines currently has as many as 39 projects in its pipeline that once completed will result in the completion of 11,039 rooms, which is a substantial number for any country, let alone one that has traditionally been as small of a market as the Philippines.
Those upcoming projects are largely concentrated in the very near future, with 15 of them slated to make their debuts in 2018, while 2019 has 11 projects on tap, 2020 has 5 projects on top, and there are 8 projects on their way in 2021 and beyond. Of these projects, 20 fall into the five star designation while 19 fall into the four star class.
For those who are familiar with the Philippines, the interest of the hospitality industry, as well as the challenges it has sporadically faced, will come as no surprise. The Philippines is a small but diverse nation that is rich with culture, history and natural vistas that provide unrivaled splendor. It is an ideal country for beach loving guests to unwind and enjoy the sun and sand, and it is also an enticing destination for those who enjoy ecotourism and outdoor adventurism.
The Philippines, however, has stumbled a bit in recent years due to political instability, concerns over security and a few other factors that have limited the flow of tourists to the nation and also put a cap on the excitement and interest of the investors that are so crucial to powering hospitality expansion in any and all countries. The Philippines, experts say, must also address poor air transport infrastructure that has led to troublesome access to the islands in recent years. Still, rosy estimates have the island nation on tap to expand the number of foreign visitors that it sees annually by as much as 10 percent over the next five years, which would also contribute to a corresponding hotel construction boom.
Let's take a look at a few other projects currently underway in the Philippines:
The 180-room Holiday Inn Baguio Center will become the first foreign brand to open in Baguio City in 15 years …[READ MORE]
The 155-unit Somerset Gorordo Cebu is Ascott's second serviced residence in the city after Citadines Cebu City …[READ MORE]
The Citadines Cebu City will be part of a new Base Line Center which is a mixed-use development …[READ MORE]
More information on hotel projects in the Philippines can be found on TOPHOTELPROJECTS, the specialized service provider of cutting-edge information of the hospitality industry.
Jule Grass
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TOPHOTELPROJECTS
