Local, foreign markets to fuel demand in hospitality market

CEBU, Philippines - Cebu's hospitality sector is expected to see further demand from both the local and foreign markets, according to an industry executive.

Lisette Arena, senior marketing manager at Robinsons Hotels and Resorts, said there is still notable demand for accommodation and events facilities in Cebu.

"We are very optimistic for Cebu," Arena said at a company event late Thursday. She announced the firm is set to partially open its second Summit hotel in Cebu in Robinsons Galleria by end of this year. 

The hotel will be finished completely by the first quarter of 2017.

Arena sees that Cebu will continue to see demand for conventions, conferences and meetings.

Cebu's hotel market is further seen to be robust due to sustained growth in tourist arrival. 

According to data from the Department of Tourism, Central Visayas welcomed 1.3 million tourists in the first three months of 2016, up nine percent from 1.2 million in same period last year.

Cebu alone welcomed 938,887 tourists both local and foreign, up six percent.

According to Pinnacle Real Estate Consulting Services in its 2016 second quarter market insight, the Philippine tourism industry, in general, has been benefiting from the steady growth in tourist arrivals in recent years.

"While the 6-million-per year mark is still to be reached, tourist arrivals for the first three months already reached over 1.6 million (nationwide)," Pinnacle noted.

The consulting firm said the focused development of tourism infrastructure would positively impact on the development of hotel, gaming and leisure industries.

"This would be good to both the local and foreign tourists since there will be more choices of tourists spots, events and accommodations; and in turn, generate more revenues, dollars or otherwise," Pinnacle said.  (FREEMAN)