Has the tourism industry recovered in 2023?
This sector has been one of the worst hit and affected during the life changing experience of Covid-19. A memory of hotel and establishment closures, travel restrictions, zero to minimal guests in destinations and loss of work opportunities, is one we do not want to go back to. Has 2023 been a true year of recovery? Allow me to share some insights.
Encouraging productivity
Megaworld Hotels and Resorts ends the year with an operating income 73 percent above 2022—a highly encouraging productivity after most of the challenged markets are gradually picking up with MICE group arrivals and interest to travel increasing across regions. We are also eager to welcome more hires for our properties to support the demand from operations and our goal to build more meaningful relationships.
In 2024, we gear towards welcoming bulk inbound international travelers after numerous international sales efforts this year to build source countries within Asia Pacific, Europe, and Australia thanks to the Department of Tourism.
What’s exciting is the growing demand for local experiences and brands offering packages unique to the locality.
Emerging trends
The shift in booking trends has also inspired us to create a new department refining the sales and marketing by setting up the new commercial department in 2024 delineating distribution and revenue management, hotel sales and strategic partnerships covering MICE, corporate segments and marketing group covering branding, public and media relations and digital marketing and online reputation.
The organization will remain agile in addressing the changing times of the industry.
Growth
Looking to the future, we see three things that will contribute to the growth of the landscape.
First is global upskilling. We remain aggressive to learn new ways to improve global penetration. Our competition is not the hotel next door but rather they are allies as we go head-to-head with other nations.
Second is infrastructure. In 2024, we’re adding 2,500 more rooms to our inventory of 4,500 rooms. In the first half, MHR is opening the country’s largest hotel, Grand Westside Hotel at Westside City with 1,530 rooms. Our third hotel, Chancellor Hotel Boracay in Boracay Newcoast will also open with 554 rooms.
Lastly, we’re excited to open Belmont Hotel within Iloilo Business Park with close to 404 rooms. We believe in the country’s capability to be the next MICE destination in Asia.
Megaworld Hotels and Resorts is doing its part to add to the country’s total room inventory guided by the vision of Megaworld’s founder, Dr. Andrew Tan. Third is authentic local experience. Growth for us means falling deeply in love and celebrating the Philippines. With the Sampaguita, MHR’s signature brand of service, we are excited to keep on rallying for our national flower that will elevate our services, guest experience, and appreciation for our rich culture and heritage.
