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Hotel developers across the country have invested some P250 billion to add 40,084 new room keys to the country’s existing inventory in the next six to seven years, according to Leechiu Property Consultants .According to LPC, more than half or 54% of the national pipeline keys will be built by the top 10 hotel developers, led by DoubleDragon Corp. with 4,324 keys; followed by Megaworld Hotels and Resorts with 3,889 keys; and Hann Philippines Inc. with 2,850 keys.
Half or 50% of the pipeline keys are located in Luzon with a concentration in Clark and Metro Manila; 42% will be in the Visayas with a focus in Boracay, Mactan island, and Panglao; and 8% will be in Mindanao in Davao City, Cagayan de Oro City, and Siargao.“Developers are targeting key locations like resort and casino destinations to capitalize on strong tourism demand,” LPC said.
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