Hotel investors have pledged around PHP250 billion (US$4.39 billion) to develop 158 new accommodation establishments in the Philippines over the next six to seven years.
This investment will add 40,084 new room keys to the country’s existing inventory, according to Leechiu Property Consultants’ “2024 Philippine Accommodation Pipeline Report.”
The consultancy revealed that several of these projects are tied to existing or upcoming casino resort developments in the country.
“This substantial pipeline expansion demonstrates the commitment of developers and investors to the ongoing growth and strength of the hotel industry,” the report noted.
The expansion is projected to create around 57,000 direct jobs, emphasizing the significant economic and employment impact of these projects, the consultancy added.
More than half of the national pipeline—about 54 percent—will be developed by the top 10 hotel developers in the Philippines, according to Leechiu Property Consultants.
Leading the construction efforts is DoubleDragon Corp with 4,324 rooms, followed by Megaworld Hotels and Resorts with 3,889 keys, and Hann Philippines Inc with 2,850 rooms.
Hann Philippines, the company behind Hann Casino Resort, is currently developing the Hann Reserve property. This luxury project will feature three 18-hole golf courses, multiple high-end hotels, villas, and residences, according to its promoter.
In December, a Banyan Tree-branded hotel broke ground at Hann Reserve, and in July, Hann Philippines confirmed the development would also include a 250-room InterContinental-branded hotel.
The report highlights that local brands, primarily from the country’s top developers, will provide 19,901 hotel rooms in the 2024 accommodation pipeline, while international brands will contribute 16,798 rooms.
“This balance reflects the Philippines’ increasing appeal to global operators,” the consultancy stated.
Leechiu Property Consultants expects notable growth in properties managed by international brands, driven by the Philippines’ vibrant tourism sector and attracting more global operators.
Between the last quarter of 2024 and the end of 2025, nearly 11,400 new rooms will be added in the Philippines, with the majority located in the National Capital Region and Cebu province.
Parañaque, particularly the Manila Bay Area, has attracted major local developers due to the thriving gaming industry.
“With 2,863 rooms in the pipeline, Parañaque leads Metro Manila and ranks fifth nationwide for new hotel developments,” the report said.
Notable projects in Parañaque include the Westside City Resorts by Suntrust Resort Holdings, Hotel Okura Manila Bayshore, and Banyan Tree Manila Bay.
The Westside City hotel casino project, developed by Alliance Global Group Inc in partnership with Suntrust Resort, is set to open in the first quarter of 2025.
Cebu City also ranks fifth nationwide for new hotel developments, including a second hotel at NUSTAR Resort and Casino.
Last week, Robinsons Land Corp announced plans to add an “ultra-luxury” NUSTAR-branded hotel to its Cebu complex, with an investment of over PHP10 billion in hospitality projects in the coming years.