AGI plans to build 10,000 hotel rooms in 6 years
Alliance Global Group, Inc. (AGI), the investment holding company of tycoon Andrew Tan, is aggressively expanding its hotel business with the aim of becoming the country’s top hotel owner in six years.
In his speech during the Philippines Property Awards 2014, Tan revealed that the group will have a total of 12,000 hotel rooms in its portfolio all over the country by 2020.
“These hotel rooms will be offered under 12 different local and global hotel brands. The global brands include Marriott, Hilton, Sheraton, Westin, Okura and Maxims,” Tan said.
The group is rolling out aggressive expansion plans to build more than 10,000 new hotel rooms in all of its developments in the next six years. All of these new hotels will be built in Megaworld townships across the country.
These include 2,000 rooms in Newport City; 2,800 rooms in Resorts World Bayshore City; 1,900 rooms in Boracay Newcoast; 2,700 rooms in The Mactan Newtown in Cebu; around 400 rooms in Iloilo Business Park; and more than 180 rooms in Twin Lakes, Tagaytay as well as in other parts of Metro Manila.
By 2020, the Megaworld group will complete around 8,600 rooms while Travellers International Hotel Group, Inc. will complete 3,400 rooms.
Currently, the group has built 1,900 rooms in its existing hotels namely: Richmonde Hotel Ortigas; Eastwood Richmonde Hotel; Marriott Hotel, Maxims Hotel and Remington Hotel in Newport City; and Fairways and Bluewater in Boracay Newcoast.
“Once completed, our 12,000 hotel rooms can accommodate up to an estimated 2 million visitors per year. It is one way we can help the government achieve its yearly tourist targets,” Tan added.
AGI holds interests in property development through Megaworld; integrated tourism development through Global-Estate Resorts, Inc.; and Travellers International Hotel Group, Inc., which owns Resorts World Manila.
It also controls food and beverage manufacturing and distribution through Emperador, Inc., which owns leading brandy firm Emperador Distillers, Inc.; and Golden Arches Development Corporation, which operates and franchises quick service restaurants under the McDonald’s brand.