Expansion of Ayala Land's Hotel Property as Part of $500 Million Investment in Tourism Sector Due to Booming Tourism
Going Big Time: Ayala Land's $500M Expansion Plan
Under the leadership of billionaire Jaime Zobel de Ayala and his family's Ayala Corp., Ayala Land - the Philippines' oldest conglomerate - aims to double its hotel room count to 7,500 by 2030. This ambitious move comes in response to the tourism bonanza sweeping the nation.
In a statement to the stock exchange, Ayala Land's CFO, Augusto Bengzon, revealed their hotel expansion strategic shift, transforming Ayala Land Hotels & Resorts into Ayala Land Hospitality. This rebranding effort is designed to position the company in the forefront of the anticipated travel surge.
The Philippines' wealthy tycoons, such as heirs of the late Henry Sy Jr. and the family of industrialist John Gokongwei, are also expanding their hospitality assets across the country. Such expansion is driven by the anticipated upgrades to the country's primary international airport and the construction of new airports, all expected to boost the tourism sector.
The nation is already attracting global hotel giants like Marriott, Westin, and Dusit Thani to expand their presence in the Philippines. Ayala Land Hospitality will invest in updating their flagship properties, modernizing Seda business hotels, and refurbishing El Nido Resorts in the stunning Palawan islands.
Apart from renovating existing properties, Ayala Land Hospitality plans to build new hotels and resorts. Benefiting from Ayala Land's extensive land holdings nationwide, these developments will be seamlessly integrated with the developer's townships. Ayala Corp., founded by Jaime Zobel de Ayala's grandfather in 1834 as a Manila-based distillery, has since branches into banking, real estate, telecommunications, and energy. The family's net worth stands at approximately $2.6 billion, according to Forbes Asia's list of the Philippines' 50 wealthiest individuals published in August.
- Ayala Corp., through its subsidiary Ayala Land, is planning to invest a significant amount, a billion dollars ($1B), in expanding its hospitality properties and transforming Ayala Land Hotels & Resorts into Ayala Land Hospitality.
- As part of its expansion plan, Ayala Land Hospitality intends to increase its total hotel room count to 7,500 by the year 2030, seizing the opportunity presented by the tourism boom in the Philippines.
- In a bid to further solidify its position in the hospitality sector, Ayala Land Hospitality will integrate its new hotels and resorts into existing townships across the Philippines, leveraging Ayala Corp.'s extensive land holdings.
