Villar Group ventures into hotel business

MANILA, Philippines – Vista Land & Lifescapes Inc., the property holding company of former senator Manuel Villar, will launch its own hotel brand as it moves to become one of the country’s leading integrated property developers.

In a briefing, Villar said the group bought a small hotel last year, the 54-room Sands Hotel in Boracay Island in Aklan as it prepares to put up its own hotel brand.

“We are putting up our own hotel brand,” Villar said.

He said the company’s venture into its own hotel brand may consist 150- to 200-room hotels in prime areas around the country that would cater to local businesses and could be similar to Seda Hotels of the Ayala Group.

“We have quite a number of prime properties,” he said, adding that a hotel brand under its portfolio would make Vista Land a complete real estate company.

“Now we feel we are ready. We have a decent number of malls, BPOs and offices,” Villar said.

The company last week reported a net income growth of 14 percent to P7.2 billion last year, calling 2015 a banner year for the company which has also completed the acquisition of Starmalls.

The P7.2 billion includes Starmalls’ net income for the year as it already became a subsidiary after its acquisition last year.

Vista Land alone reported a P6.3 billion net income, 10 percent higher than the previous year, while Starmalls reported a P904 million income or an increase of 57 percent over 2014 income.

Revenues last year, meanwhile, rose to a record P28.7 billion or 12 percent increase.

The company has completed its acquisition of 88.34 percent of Starmalls after the end of its tender offer period last Feb. 15, 2016.

Total consolidated assets as of end-2015 totalled to P152.9 billion.

Vista Land is the holding company of five residential business units, Britanny, Crown Asia, Camella Homes, Communities Philippines and Vista Residences with the addition of Starmalls, its commercial business arm.

At present, Vista Land is in 95 cities and municipalities across 36 provinces. It intends to focus on the development of “communicities,” an integrated urban development combining lifestyle retail, prime office space, university town, healthcare, themed residential developments and leisure components.