MANILA, Philippines - Ayala Land Inc., the property arm of conglomerate Ayala Corp., is closing InterContinental Manila by year-end.
This as the hotel management contract between AyalaLand Hotels and Resorts Corp.’s subsidiary and the InterContinental Hotels Group is set to expire on Dec. 31.
ALI earlier unveiled plans for a new commercial, mixed-use development that will transform the entrance of Ayala Center in Makati into a modern gateway, with a first-of-its-kind intermodal transport facility designed especially for the commuting public.
This new gateway covers the property where InterContinental is located.
“We thank InterContinental Hotels Group for the long and fruitful partnership which spans 46 years. It was one of the first developments that helped to establish Makati as a premier central business district, and this legacy will be upheld by the continuous enhancement of Makati,” said Manny Blas, ALI vice president and head of operations for Makati.
Leanne Harwood, vice president for IHG’s South East Asia operations, said the group continues to manage Holiday Inn & Suites Makati, another property owned by AHRC.
“We remain focused on our growth in the Philippines and look forward to further opportunities with the group,” Harwood said.
All InterContinental Manila regular employees have been informed of the closure and assured of ample support and assistance, AHRC COO Michael Alexis Legaspi said.
“We express our deep appreciation to our hotel colleagues and assure them that we are looking after their welfare, and we will assist them in making the transition as smooth as possible,” he added.
Blas said the development of the new gateway forms the next phase of ALI’s Makati revitalization plan which also consists of the redevelopment of McKinley Exchange, Ayala Triangle, City Gate and Circuit Makati.
“We deliberately planned the Ayala Center redevelopment in such a way that all of its property components are pulled together by an expansive, modern, and comfortable intermodal transport facility, which will ultimately ease traffic and pedestrian flow in the EDSA-Ayala area,” he said.