GOTIANUN-LED Filinvest Hospitality Corp. (FHC) is aiming to add close to 2,000 new rooms in the next five years, a company official said.
“We’re looking at adding close to 2,000 keys. It’s more about the quality of the keys and the spread as opposed to the number,” FHC First Senior Vice-President Francis Nathaniel C. Gotianun told reporters on the sidelines of the Shareholders’ Association of the Philippines’ third general membership meeting in Makati City on Tuesday.
“We’re focusing on key tourist destinations across the country. We’re working on a collection of the top spots so when we go out into the international market or even the domestic market, we can sell all the good destinations, whether that be Boracay, Palawan, Bohol, Baguio, or Cebu. We’re trying to catch them all,” he added.
FHC’s hospitality portfolio has about 1,800 keys across seven hotels, ranging from high-end five-star properties under the Crimson brand to Quest hotels and Timberland, which serve the mid-priced leisure markets.
“We’re really focusing on creating a collection of hotels in the right locations so that when we go out into the market, we can sell all the best of the Philippines,” Mr. Gotianun said.
Mr. Gotianun said that FHC is very bullish on the prospects of the country’s tourism sector.
He added that the company has a couple of projects to be announced by the end of the year.
“We can really see the tourism numbers starting to come back up, very strong domestic while international is still a little bit below, but we think we’ll catch up,” Mr. Gotianun said.
He also said that FHC is looking to increase its revenue share to its parent company, the listed conglomerate Filinvest Development Corp.
“It’s still pretty small at this point. We’re only at about 3% to 4% of overall revenues at this moment. Of course, we’re looking to grow that, and it should grow as more and more of the hotels come online and mature,” he said.
For the first half, FHC grew revenues by 49% on the resurgence in domestic tourism and international arrivals. — Revin Mikhael D. Ochave
