CLI to build more hotels in 3-5 years

CEBU, Philippines — Cebu Landmasters Inc., recently announced to build at least 15 hotels in the next three to five years.

As tourism in Cebu and the rest of Southern Philippines region is seen to take high stride for long term, CLI chairman and chief executive officer Jose R. Soberano III said aside from leasing and property sales, the company is also looking at hospitality as one of its growth drivers.

At present, CLI has existing partnerships with Ascott Limited’s Citadines and Lyf and Radisson’s Red brands.

After it introduced its 180-room Citadines at the Base Line Center in Cebu, CLI will soon unveil another Citadines project in Bacolod.

According to Soberano, the company is primarily looking at Boracay, Palawan, and Siagao islands as possible sites for hotel developments in partnerships with hotel management companies.

Soberano, who recently attended an international tourism forum in Thailand, mentioned that the Philippines has yet to scratch the surface in terms of maximizing its potential.

Compared to Thailand which reached 38.27 million arrivals, the Philippines with the similar tourism appeal only raked in 7.5 million arrivals as of 2018.

Soberano believes that hospitality business in the Philippines is another promising sector, and CLI is take advantage of this opportunity.

Moreover, Soberano is also banking on the young generation’s knack for travel and setting aside a budget for it. (FREEMAN)