|Manila hotel market update.|
Wednesday, 4th December 2013
Source : Bill Barnett, Managing Director, C9 Hotelworks
In the first eight months of 2013, the Philippines welcomed over 3 million international visitors with Korean, American and Japanese visitors being lead contributors.
There was a total of 37 million passengers through Ninoy Aquino International Airport (NAIA) in 2012, a growth of 12% over 2011 and 36% of total international travelers are first time visitors to the country.
Manila’s gaming push aiming to induce tourism demand.
“Manila’s tourism market is taking a decided turn away from a vanilla offering to boost visitor numbers. Over the past 18 months, there was an influx of Korean and Chinese visitors into the Philippines.
The country has a competitive advantage over others in South East Asia in terms of its location, approximately 1.5 - 3 hours from major cities in China. Last year it recorded it’s highest growth ever.
As Russian tourists arrived in the first Russian charter flight to Manila, which launched in October. Viewing the trend of Russian visitors in other regional leisure markets, the potential to tap into mass tourism remains strong.
The South East Asian casino dreamscape is setting up a battle between established gaming giants and independent operators in a high stakes contest of win or lose. Meanwhile the growth by the gaming industry in Metro Manila has fueled the building of hotel rooms.
A substantial rise of the gaming industry in Manila is anticipated over the next three years which will be a leading engine of economic growth for the Philippines. Total revenue generated from casino businesses is forecasted to top US$3 billion in 2015, an average of 32% growth year on year. Hotel supply is expected to grow at 38% over the
existing supply in the next four years.
By 2017 the Manila hotel supply is anticipated to add over 6,000 keys into the market, approximately one-third of the existing keys. Given the fact that tourist arrivals to the country are still at a low compared to its peers such as Thailand and Malaysia, the current focus is on generating more demand. Looking forward there is upbeat momentum for future development in the tourism industry in Metro Manila.”
About C9 Hotelworks
C9 Hotelworks is an internationally recognized consulting firm with extensive experience in the Asia Pacific region. Its core business focus includes: Hotel and Resort Development Asset Management / Ownership Representation Project Feasibility and Analysis Key competencies include international hotel operator search, selection and contract negotiation, mixed use hotel and residential planning and operation reviews. A wide range of both institutional and private developers and a comprehensive portfolio of completed projects give C9 the skill set and background to focus on key issues, evaluate complex ones and assist clients in achieving solid results. Based in Phuket, Thailand and led by Managing Director Bill Barnett, who has 28 years of experience in Asia Pacific, the firm is well positioned
to serve an increasingly demanding marketplace.
Managing Director, C9 Hotelworks Company Limited
9 Lagoon Road, Cherngtalay, Thalang, Phuket, 83110, Thailand
(Office located at the entrance of Laguna Phuket)
T: +66 (0)76 271 535
F: +66 (0)76 271 536