MANILA, Philippines — Phinma Corp., the diversified conglomerate of the Del Rosario Group, wants to dip its toes into more condotel projects following a successful maiden venture.
“This idea of condotels seems to be interesting. We will take a little closer look at it,” Phinma chairman and CEO Ramon del Rosario Jr. told The STAR.
Del Rosario said he is encouraged by the success of the group’s first condotel project in Samal Island.
He said the project was sold out before it even broke ground.
“My brother, who’s in charge of the business, has been pushing it for the longest time, but I wanted proof of concept. So this one has done very well, so we’re looking at that as a possible thing that we might want to do more of,” Del Rosario said.
Phinma Hospitality continues to expand its network of hotels nationwide to serve more business and leisure travelers.
In January, the company reinforced its partnership with the ANFLOCOR Group, through Damosa Land Inc., during the groundbreaking of TRYP by Wyndham Samal, its first venture into the condotel market.
TRYP by Wyndham Samal will offer modern accommodations, thoughtfully designed amenities and the globally recognized hospitality standards of the Wyndham brand.
“It is a joint venture with the Floirendos. It’s the Floirendos doing the project, but it’s using our brand and our franchise, and we will manage it,” Del Rosario said.
Del Rosario said the group would also continue making a big push to address the underserved socialized housing sector in the country through its community housing projects.
“Community housing is just about to be launched in a big way and we’re doing it slowly just to test the concept because it’s challenging to make it a viable business,” he said.