MANILA, Philippines – The hotel unit of property giant Ayala Land Inc. (ALI) is boosting its portfolio in Metro Manila through a new agreement with an Asian luxury hotel and residences company.
Mandarin Oriental Hotel Group will close its current hotel in Makati this year but will start operations of a modern luxury facility in the next six years.
The new Mandarin Oriental Manila, which will start operations in 2020, will offer 275 spacious rooms with an extensive range of modern amenities, including a premium selection of restaurants and a signature spa, ALI said.
In a disclosure to the Philippine Stock Exchange, ALI said its wholly-owned subsidiary AyalaLand Hotels and Resorts Corp. “signed a long-term management agreement with the Mandarin Oriental Hotel Group to develop and operate a luxury hotel in Makati City.”
“This is in line with the company’s thrust of expanding its hotels and resorts business portfolio,” ALI said.
The existing five-star Mandarin Oriental, which has 413 rooms and 29 luxurious suites located in Makati, will close its doors this year after 38 years of operations.
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Mandarin Oriental Hotel Group, an award-winning owner and operator of some of the world’s most luxurious hotels, resorts and residences, has 44 hotels with close to 11,000 rooms in 25 countries in its portfolio.
For its part, Ayala Land Hotels and Resorts operates 2,151 rooms through Cebu Marriott, Hotel Intercontinental, Fairmont Hotels, Raffles Suites, and Residences, Holiday Inn and Suites and Seda Hotel. The company targets to reach 4,000 rooms in 2016.
The property giant is also venturing into tourism estate development with the launch of a mixed-use project in Palawan. ALI allotted P6 billion for its first master-planned, eco-tourism estate called Lio, a 325-hectare property in El Nido.
ALI operates the famous El Nido Resorts in Lagen and Miniloc Islands in Northern Palawan. The Department of Tourism targets to attract 10 million foreign tourists by 2016 while encouraging investments in hotels and tourism-related infrastructure.
