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Cebu real estate firm, Raddison okay tie-up

Cebu Landmasters Inc., a leading property developer in Visayas and Mindanao, said it signed an agreement with Radisson Hotel Group to bring the first Radisson RED hotel to the Philippines. 

CLI said in disclosure to the stock exchange said it would build the 146-room Radisson RED within the company’s mixed-use development along AS Fortuna in Mandaue City, Cebu.

Radission RED, which targets the ageless mindset, encompasses a lively and flexible concept, is scheduled to open by the fourth quarter of 2021,boosting CLI’s hotel portfolio to 756 rooms.

“We are delighted to be working with Radisson Hotel Group to bring Radisson RED to the Philippines for the first time,” said CLI senior vice president and chief operating officer Jose Franco Soberano. 

“This unique hotel concept will offer a completely new style of hospitality in Cebu City, appealing to a generation of tech-savvy travelers who appreciate more fun hotel experiences and flexible stays.”

Katerina Giannouka, president for Asia Pacific of the Radisson Hotel Group, said Cebu City was the perfect location to introduce Radisson RED to the Philippines

“This is a dynamic, fast-paced urban center with a youthful vibe and positive outlook, and we look forward to welcoming guests at Radisson RED and introduce a new era of hospitality to the country,” Giannouka said.

“We are excited about our partnership with Cebu Landmasters and believe that it will be a success. We are confident that the Radisson RED brand will position us for solid performance, setting inspiring and memorable moments,” she added. 

Citing data from the National Economic and Development Authority, CLI said Visayas  was expected to outpace the 7percent -8 percent growth of the Philippines over the next five years. 

Cebu and Central Visayas are expected to benefit further from opening of the new P17.5-billion Mactan Cebu International Airport in June. 

CLI, meanwhile, said it booked reservation sales of P2.7 billion in the first quarter of 2018, up 24 percent over the same period last year.

Topics: Cebu Landmasters Inc. , Radisson Hotel Group , AS Fortuna , Jose Franco Soberano
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