Tourism capitalist opts for domestic expansion

CEBU, Philippines – Amid tempting opportunities to expand overseas following the easing of restrictions within the ASEAN region, Islands Group chooses to focus its expansion investments in the Philippines.

"The game is here. Everything is happening in our country," said Islands Group president and chief executive officer (CEO) Jonathan Jay Aldeguer.

According to Aldeguer, while it is also good to expand market penetration outside of the Philippines, the company, which operates souvenir retail chain, hotels, pasalubong retail shops, among others prefer to take advantage of the fertile Philippine market first.

"We'd like to keep playing in our home court where we know already the dynamics," said Aldeguer admitting that there are a lot of partnership and expansion inquiries from other countries, even as far as Nigeria.

The Group's flagship company Islands Souvenirs Inc., opened 12 new stores last year, bringing the chain's network size to 108 stores nationwide.

Aldeguer anchored his confidence for domestic expansion on the improved purchasing power of Filipinos, and the climbing figures of local and foreign tourism, among other positive indicators.

The Group is the first integrated tourism travel services brand in the Philippines so far. Its subsidiaries include; Islands Souvenirs, Islands Stay Hotels, Islands Banca Cruises, Islands Pasalubong Inc., Islands Destinations Mall, Islands & More, Islands Design and Merchandising and Islands Franchise Corp.

Its hotel arm, the Islands Stay Hotels, is now maintaining three hotels, two in Cebu and one in Palawan.

"We would like to prioritize the Philippines. The action is here,” reiterated Aldeguer adding that the Group is also looking at investing in other industries, other than tourism.

Cebu in particular offers higher potential across industries. Promising outlook is strengthened by the building of new world-class airport facility, he said.

"Cebu is taking the lead as manifested by our new airport and new hotels," Aldeguer said stressing that the Group is now actually anticipating and positioning for the influx of visitors and market surge. (FREEMAN)