SM Hotels eyes new customer segment with P1.5-B Laguna project
The hospitality unit of real estate giant SM Prime Holdings Inc. intends to launch a P1.5-billion “rising industrial and commercial hub “ in Sta. Rosa, Laguna to diversify and complement its existing portfolio.
In a briefing with reporters, SM Hotels and Conventions Corp. (SMHCC) said the new Park Inn by Radisson hotel will open its doors in the first quarter of 2029. This, amid the firm’s regional expansion push meant to take advantage of growing business travelers.
SMHCC executive vice president Peggy Angeles said the project would capture a different demand segment.”
Considered a “rising industrial and commercial hub,” Sta. Rosa currently houses several manufacturing and information technology-business process outsourcing facilities, as well as ecozones and real estate projects.
Data at the Department of Trade and Industry show that Sta. Rosa ranked 11th among highly urbanized cities nationwide.
According to SMHCC, Park Inn Sta. Rosa will have 201 hotel rooms, along with dining outlets, recreational facilities and dedicated spaces for meetings and events.
It will likewise connect directly to the SM mall and SMX Sta. Rosa Trade Hall through a bridgeway.
“With the City of Sta. Rosa’s growth as a business and industrial hub, demand for accommodation from business and leisure travelers continues to rise,” Angeles said in a statement.
Once built, Park Inn Sta. Rosa will add to SMHCC’s portfolio of 10 hotels with over 2,600 rooms, six convention centers and two trade halls with more than 42,000 square meters of space.
The firm’s other hotels include Conrad Manila, Radisson Blu, Lanson Place, Taal Vista Hotel and Pico Sands Hotel. All of these report an average occupancy rate of around 65 percent.
Luxury brands Conrad and Radisson Blu, however, have a higher occupancy rate at 74 percent.
In pursuing a regional expansion despite weak tourist arrivals, Angeles pointed out that domestic tourism remained the country’s strength.
“Domestic tourism is thriving and the current demand is primarily for domestic travelers, led by leisure travel and, of course, the steady recovery of MICE,” she said, referring to meetings, incentives, conventions and exhibitions.
