MANILA, Philippines — Marco Polo Hotels is managing a new hotel that will open in the Ortigas Business Center while it continues to talk to potential hotel owners the possibility of operating a new hotel in the Manila Bay area.
In an interview, Marco Polo president Steve Kleinschmidt said the new Ortigas hotel will be open in late 2013 or early 2014. Currently, they have completed the foundation and are now building the podium.
He said this contemporary 5-star hotel will feature 313 rooms and suites including Marco Polo’s signature Continental Club Floor, extensive meeting facilities with a Ballroom and 8 function rooms.
Dining options include an all day dining restaurant, a Chinese restaurant, a lobby lounge and a Sky Bar. The recreation area will feature an indoor swimming pool, health club and spa.
Kleinschmidt said the hotel is being built by Xin Tian Ti (XTT) which is a development corporation established by First SLP Holdings to manage the hotel and tourism-related businesses.
First SLP Holdings fully owns JS Unitrade Merchandise Inc. which has emerged as one of the top 300 corporations in the country as a prime mover of baby care, feminine hygiene, and geriatric care products with annual revenues of over $100 million.
Kleinschmidt said Marco Polo is looking for a hotel to operate in the Manila Bay area which they see as having the right fit for their brand, after noting that Makati is already too competitive.
While Marco Polo is not going into gaming despite the four major hotel-casino projects being developed in the area, Kleinschmidt said they are open to operating a hotel portion of a mixed-use development.
He noted that recent developments in the tourism sector, including the development of major hotel-casino projects, may revitalize the Manila Bay area and they want to be part of this growth.
Kleinschmidt said the hotel industry in Manila has a very stable market and this makes it very attractive to hotel management companies like Marco Polo.
He said they are already talking to some groups that are planning to open new hotels in the area although none of them can be disclosed yet.
Marco Polo already operates two hotels in the country with the first in Davao City followed recently by the one in Cebu City.
Meanwhile, Federal Land Inc., the property development arm of the Metrobank group, is developing a P3.5 billion high-end residential condominium project which will be co-branded with the adjacent Marco Polo Hotel.
In a press briefing, Federal Land president Alfred Ty said the Marco Polo Residences will be a two tower project offering a total of about 400 condominium units as well as seven luxury two-level villas.
Ty said they are investing at least P3 billion to develop the project and expects to generate revenues of about P3.5 billion from it.
According to Ty, market reception has been strong with the first tower’s 170 units already 80 percent sold while they have already sold 40 percent of the second tower’s P230 units.
“Real estate developers are realizing that they can put a big premium on the pricing if they have that branding,” said Marco Polo Hotels president Steve Kleinschmidt.
Source: Manila Bulletin
