Anchor Land Holdings Inc. plans to build a portfolio of 1,000 hotel rooms over the next five years as it bets on the strong growth of the tourism sector,
Anchor Land vice chairman Steve Li said the company would build hotels in Boracay, Palawan and Tagaytay.
Li said the company recently acquired a 10-hectare property in Tagaytay, which it planned to develop into a mixed-use development with retirement villages, hotels, commercial and residential developments.
The company plans to launch the development next year afterf finalizing the masterplan of the property.
The company is in talks to acquire properties in Boracay and Palawan for future hotel developments.
“We hope to have four to five hotels over the next five years,” Li said.
Anchor Land is currently building the 128-room Admiral Hotel, which will rise along Roxas Bouleverd in Manila.
Admiral Hotel, which will be managed by Accor Hotels group’s M Gallery brand, will be completed in the next three years.
Li said company’s decision to be aggressive with the hotel venture would provide new revenue stream.
Anchor Land is in the midst of rebalancing its property portfolio to increase recurring income while strengthening its core residential business.
Anchor Land over the next five years expects to obtain 20 percent of the revenues from recurring business.
Anchor Land earlier said it planned to build 10,000 bedspaces for students and employees of business process outsourcing companies.
The company has identified Pasay, Taguig, North Edsa and the university belt area in Manila as potential sites for the planned development.
Anchor Land started as a residential developer building condominiums in the Binondo area that primarily targeted Chinese buyers.
It has expanded to other sectors by building warehouses for Chinese companies and going into office development.