SMHCC to expand portfolio
The expansion strengthens SMHCC’s position in the midscale and high-end segments while leveraging synergies with the SM Prime’s diverse property network.
The expansion strengthens SMHCC’s position in the midscale and high-end segments while leveraging synergies with the SM Prime’s diverse property network.
Park Inn by Radisson Bacolod
Radisson Blu Hotel Cebu
SM Prime Holdings Inc.’s hospitality arm, SM Hotels and Convention Corp. (SMHCC), is targeting to add more properties to its hotel portfolio.
By end-2029, seven new hotel projects will be complete, a move that will increase the SM property group’s hotel count from 10 to 17.
“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.
Total room inventory will increase from 2,602 to 3,923. This translates to a 51- percent capacity growth. The majority of the new inventory, 969 rooms, is slated for delivery by 2028.
This five-year growth plan by SMHCC will be supported by a P10-billion capital expenditure program and will be fully funded through internally generated cash flows, SM Prime said in its website.
Six of the new hotels will carry the Park Inn by Radisson brand, while one will be developed under Radisson. Only one of the new SM hotels will be in Metro Manila. The rest are strategically distributed in regional growth corridors: two in Calabarzon, one in Central Luzon, two in Cebu and one in Laoag. The locations were selected based on tourism potential and integration with existing SM Prime assets.
“Our hotels serve as catalysts for local economic activity. We are focused on creating long-term value—through jobs, tourism flows and sustained growth that enhances SM Prime’s diversified revenue base,” Angeles added.
SMHCC’s current hotel portfolio includes luxury (Conrad Manila, Radisson Blu Hotel Cebu), leisure (Taal Vista, Pico Sands) and business hotels (Park Inn by Radisson, Lanson Place Mall of Asia).
