Andrew Tan’s AGI is Philippines’ biggest hotel developer
With nearly 7,500 hotel room keys, the premium lifestyle conglomerate set its sights to bigger investments in the PH tourism sector
MANILA, Philippines — Cementing its leadership as the country’s biggest hotel developer and operator, Alliance Global Group Inc. (AGI) continues to pour major investments in the Philippine hospitality industry as it continues its aggressive expansion plan across the country.
As the Philippines’ premium lifestyle conglomerate led by tycoon Dr. Andrew L. Tan, AGI boasts of a stellar portfolio consisting of close to 7,500 hotel room keys.
This is spread across the group’s 19 international and homegrown operating hotel properties located in key tourism destinations and business hubs across the Philippines.
Its subsidiary, Travelers International Hotel Group, now operates six international hotel brands. These include five hotels in Pasay City: Marriott Hotel (570 rooms), Hilton Hotel (352 rooms), Sheraton Hotel (350 rooms), Hotel Okura (190 rooms) and Holiday Inn Express (737 rooms), as well as Courtyard by Marriott in Iloilo City (326 rooms).
Its other subsidiary, Megaworld, on the other hand, operates 12 hotel properties across the archipelago under the Megaworld Hotels & Resorts brands.
These include Richmonde Hotel Ortigas in Pasig City (210 rooms), Eastwood Richmonde Hotel in Quezon City (138 rooms), Richmonde Hotel in Iloilo City (149 rooms), Savoy Hotel Manila in Pasay City (684 rooms), Savoy Hotel Boracay in Boracay, Aklan (559 rooms), Savoy Hotel Mactan Newtown in Lapu-Lapu City, Cebu (547 rooms), Belmont Hotel Manila in Pasay City (470 rooms), Belmont Hotel Boracay in Boracay, Aklan (442 rooms), Belmont Hotel Mactan in Lapu-Lapu City, Cebu (550 rooms), Kingsford Hotel Manila in Parañaque City (529 rooms), Twin Lakes Hotel in Laurel, Batangas near Tagaytay (122 rooms), and Hotel Lucky Chinatown in Binondo, Manila (93 rooms).
Global-Estate Resorts Inc. (GERI), which is part of the Megaworld Group, also operates Fairways & Bluewater in Boracay, Aklan (250 rooms and villas).
By 2028, the Group will further grow its hotel capacity to around 11,000 room keys with the addition of six new hotel properties to its portfolio under the Megaworld Hotels & Resorts.
This is aimed at solidifying its market dominance in the fast-growing tourism sector as the largest hotel developer and operator in the Philippines.
These new homegrown hotels will be located in various cities and towns across the country, particularly in Parañaque City, Laguna, Bacolod City in Negros Occidental, City of San Fernando in Pampanga, Boracay Island in Malay, Aklan and in San Vicente, Palawan.
“AGI remains as the biggest player in the Philippine tourism sector, with the largest array of international and homegrown hotels at varying price points to cater to all types of tourists and visitors. With the surge in domestic and international tourism activities, all our hotels have been experiencing high occupancy rates and much-improved average daily room rates,” Kevin L. Tan, chief executive officer of AGI, says.
The Philippine tourism industry has been in a strong recovery mode since last year, after reeling from the impact of the global health crisis which started three years ago.
As the Philippine economy continued to reopen alongside most economies around the globe, the sector saw increased discretionary spending for staycations, travel, leisure and entertainment, and the resurgence in MICE (meetings, incentives, conferences, and exhibitions) activities throughout the country.
In 2022, revenues from AGI’s tourism segment reached an historic high of P38.6 billion, growing by 84% year-on-year and even exceeding pre-pandemic 2019 levels by 10%.
“This segment has grown its importance within the Group and now contributes over 20% of AGI’s business from its share of 15-16% about five years ago,” reveals Tan. —JULIEN MATABUENA
- Latest
