A Philippines hotels group has unveiled new figures which show a total of 48 new hotels will be developed across the country between now and 2028, adding at least 15,000 more hotel rooms to the supply chain.
According to Philippine Hotel Owners Association (PHOA) Executive Director Benito Bengzon Jr, the new developments show confidence in the Philippines’ booming tourism industry, which has seen international visitor arrivals surpass earlier estimates in 2023.
“[Investors] see a very bright future for Philippine tourism and for the Philippine hospitality industry, that’s why many of the Philippine investors and developers are building projects not only in the main gateways like Manila and Cebu, but also in other cities,” Bengzon said, as per Philippine News Agency.
“The strong appetite for investment is a very strong indication of optimism in hotels as an investment and a reflection of their confidence in the market.”
Bengzon also indicated that hotels across the country have “generally enjoyed higher” occupancy rates in 2023 compared to 2022, although he didn’t provide any specific figures around this.
Nevertheless, he said such growth was driven by both strong domestic demand and the return of travellers from key markets such as South Korea and China. He also noted the efforts of hoteliers to appeal to the requirements of modern-day tourists, either by upgrading their facilities or offering a greater variety of options around organic foods and beverages.
Further growth, Bengzon said, would rely on the ongoing recovery of the airline sector and the addition of more international routes.
“The market will grow, for sure, we just have to make sure that the fundamental elements are in place. I keep talking about air connectivity because without airplanes, you cannot bring in tourists,” he said.
