SM targets 7 new hotels by 2029

SM Hotels and Convention Corp. (SMHCC), the hospitality arm of SM Prime Holdings, Inc., is expanding its nationwide footprint with seven new hotels targeted for completion by end-2029 to strengthen its presence in the midscale and high-end segments.

In a stock exchange report on Tuesday, the Sy-led firm said the expansion will increase SMHCC’s hotel count from 10 to 17 and raise its total room inventory by 51 percent — from 2,602 to 3,923 rooms. Of the 1,321 additional rooms, 969 are expected to be delivered by 2028.

Backed by a P10 billion capital expenditure program funded entirely through internal cash flow, the five-year plan includes six hotels under the Park Inn by Radisson brand and one under the Radisson brand. 

“This rollout reflects our belief in the long-term potential of the Philippine domestic travel and tourism market. We are building on the strength of regional tourism while delivering quality accommodations that enhance the value of our ecosystem of malls, events spaces and mixed-use developments,” SMHCC Executive Vice President Peggy Angeles said.

Only one of the new hotels will be located in Metro Manila. The rest will be built in key regional areas: two in CALABARZON, one in Central Luzon, two in Cebu, and one in Laoag. Site selection was based on tourism potential and alignment with SM Prime’s existing developments.

SMHCC currently operates hotels across three segments: luxury (Conrad Manila, Radisson Blu Hotel Cebu), leisure (Taal Vista, Pico Sands), and business (Park Inn by Radisson, Lanson Place Mall of Asia).