{"id":31780,"date":"2023-01-31T18:59:07","date_gmt":"2023-01-31T11:59:07","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=31780"},"modified":"2024-09-19T17:18:16","modified_gmt":"2024-09-19T10:18:16","slug":"growth-of-philippine-tourism-unveils-opportunities-for-hoteliers","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/growth-of-philippine-tourism-unveils-opportunities-for-hoteliers\/","title":{"rendered":"Growth of Philippine tourism unveils opportunities for hoteliers"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Post-pandemic lifting of travel bans can lead to the growth of more than one industry<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the <\/span><a href=\"https:\/\/mb.com.ph\/2023\/01\/02\/ph-2022-tourism-revenues-hit-209-b\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Manila Bulletin<\/span><\/a><span style=\"font-weight: 400;\">, the Philippines\u2019 tourism industry generated PHP208.96 billion (USD3.68 billion) in revenues from February until the end of December 2022. This is due to more\u00a0 Filipinos flying back to their home country alongside foreign tourists who have been waiting to travel once borders reopened.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During that timeframe, the Department of Tourism (DoT) documented 1.9 million foreign arrivals, which surpassed its original target of 1.7 million. With resumption of tourism in the Philippines, the demand for hotels grew and remained at a high.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/a-new-green-development-sprouts-in-the-philippines\/\" target=\"_blank\" rel=\"noopener\"><b>More: A new green development sprouts in the Philippines<\/b><\/a><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;In the first half of 2022, Colliers recorded the delivery of about 830 hotel rooms in Metro Manila, up 58 percent year on year. From 2022 to 2024, we expect an annual average completion of 2,650 hotel rooms in the capital region, up from the average of 930 rooms delivered annually from 2019 to 2021,&#8221; Bondoc told <\/span><a href=\"https:\/\/www.manilatimes.net\/2022\/12\/15\/business\/top-business\/developers-urged-to-build-new-hotels\/1870332\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Manila Times<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With this in mind, Bondoc recommends hotel developers to look into developing in fringe areas of Metro Manila, seeing as the capital is the area most tourists prefer to reside once they visit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Colliers also suggest hotels to focus in new areas and towns that have larger-scale real estate developments, such as Nuvali, Manila Bay, and the Edsa-Makati Gateway.<\/span><\/p>\n<p><em>The Property Report editors wrote this article. For more information, email:\u00a0<a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noopener\">propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Post-pandemic lifting of travel bans can lead to the growth of more than one industry<\/p>\n","protected":false},"author":12,"featured_media":31781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[114,488,129,638,322],"class_list":["post-31780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-hospitality","tag-hotels","tag-philippines","tag-real-estate","tag-tourism","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - 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