MANILA, Philippines – Local hotel chain Waterfront Philippines Inc. (WPI) is banking on the continuous increase in international and domestic tourists in the country to sustain its robust growth.
Kenneth Gatchalian, president of WPI, told The STAR there is still a huge opportunity for the Waterfront Group to ride on the gains achieved by the local tourism industry.
“It looks like the tourism industry right now is still growing so there’s still a huge room for us,” Gatchalian said on the sidelines of Acesite’s annual stockholders’ meeting.
Acesite is a subsidiary of WPI.
Renato Magadia, WPI chairman, added the current administration’s drive to strengthen the peace and order situation in the Philippines also increased tourists’ confidence and interest in the Philippines as a safe destination.
“I think today, there are more people interested to come in to the country because of the supposed change here, especially in the peace and order situation,” Magadia said.
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Last year, WPI’s consolidated gross revenues rose six percent to P2.1 billion from last year’s P1.97 billion.
Gatchalian noted the growth in the group’s earnings was driven by its improved online presence and systems, as well as an increase in the bookings, particularly for meetings, incentives, conventions and exhibitions (MICE).
The company official said WPI is targeting an increase of 10 percent in revenues this year.