MANILA, Philippines - Sta. Lucia Land (SLI) is expanding its hotel and condotel portfolio with properties set to rise in key cities across the country.
In the lineup of projects are Sotogrande Hotel Suites in Davao City; Arterra Residences at Discovery Bay in Cebu City; Splendido Tower 2 in Tagaytay City; Stradella at East Bel-Air in Cainta, Rizal; Sotogrande Hotel at Neopolitan in Quezon City; Sotogrande in Katipunan; and Santorini in Pasig.
The properties are expected to bolster SLI’s current stead of operational condotels, which include La Breza in Quezon City, La Mirada and Sotogrande in Cebu City.
A pioneer in condotel development in the country, SLI blends hotel and residential development into a unique investment opportunity.
“Based on our studies, the mix of hotel and residential units translates to better returns versus a whole building that’s solely a condominium or hotel,” VP for sales Paul Michael Robles noted.
With condotels in operation since 2008, SLI is able to present prospective investors with figures that are legitimate and with sufficient basis. Unit owners are assured of steady income through rental revenues within the 15-year contract period, with a high return on investment. At the end of the 15 years, they will get 150 percent of their investment and the unit is still with them, and capital appreciation.
Currently, Sta. Lucia condotel projects have a 65 percent occupancy rate, and earn an internal rate of return (IRR) of at least eight percent or $570 per month, and annualized growth rate of seven percent on their investment. Rent revenue is paid out to unit owners in quarterly dividends, and investors can expect return of investment on the 9th to 10th year of operation of the condotel.
Liezel T. Magpoc, CEO and EVP of Sta. Lucia Marketing, also emphasized the importance of rentals as a good source of passive income. “While people have active income from their salaries, it is good to invest in something while they are still able to work. What’s good about passive income from Sta. Lucia condotels is that it is much higher than the inflation rate. Financial gurus advise people to have active and passive incomes. Besides, investors can already get the money they invested in their unit on the 9th to 10th year of operation of the condotel.”
As opposed to foreign property managers that charge as much as 60 percent fee, SLI opted to form its property management group to make sure investors make money and get good returns. Hence, all condotel and hotel units are placed under the management’s hassle-free rental program initially for 15 years. Experienced hotel managers and staff operate and manage the condotel and take care of maintenance as well as taxes, eliminating the traditional lessor-lessee issues.
Under Sta. Lucia’s unique condotel concept, unit owners can also avail of 30 free hotel room nights per year on the unit they invested in, of which a maximum of three nights can be used in other Sta. Lucia condotels in the Philippines.
Recognizing infrastructure as integral support for tourism, SLI’s hotel and condotel properties are strategically located in cities that are both tourist destinations and dynamic urban centers to attract both leisure and business tourists,” said Exequiel D. Robles, SLI president and CEO.
SLI condotels consist of spacious, well-appointed one-bedroom, two-bedroom, and studio units with custom beddings and furnishings, and room amenities such as mini bar, audio system and communication ports. Full-service concierge and housekeeping cater to all the guests’ needs.
The condotels also come with the convenience of world-class leisure facilities, such as the lobby lounge, pools, fitness center, and business center. Sotogrande Hotel Suites, Arterra Residences and Splendido Taal Tower 2 are masterplanned with country clubs offering a wide selection of amenities for leisure and recreation, including a lap pool, kiddie pool, jacuzzi area, poolside bar, spa, gym, basketball court, coffee lounge and restaurant, a viewing deck, and function rooms.
Listed on popular hotel booking sites Agoda.com, Booking.com, Expedia.com, Orbitz.com, Asiaroom.com and Hotels.com, the condotels offer luxe accommodations at competitive prices.
For more information on SLI hotel and condotel properties, contact Sta. Lucia Marketing at (02) 681-9999.