MANILA - Ayala Land Inc. is set to start the construction of a sprawling tourism estate in El Nido, Palawan, next month, a company official said.
Antonino Aquino, Ayala Land president, said the groundbreaking for the project in Barangay Buena Suerte, El Nido, has already been set in late March.
The leisure resort, which has a 3-kilometer beachfront right beside an airstrip, will be the company’s fifth in Palawan province, as Ayala Land steadily acquired land in Palawan over the past years.
Aquino said the company aims to pursue a hotel and residential development in the property that will be designed like a “resort village all along the coast.”
The other leisure- and tourism-related ventures of Ayala Land include Lagen Island Resort, Miniloc Island Resort and Pangulasian Island Resort, all owned and operated by El Nido Resorts.
In 2010 Ayala Land started buying into Asian Conservation Co. (ACC), the owner of the El Nido Resorts. The company later on bought the entire ACC.
Ayala Land also bought Club Noah Isabel in Taytay, Palawan, which also operates an island-resort at the northern tip of Palawan damaged by Supertyphoon Yolanda in November.
Revenues from its hotel and resort ventures proved small compared with its other businesses; but for the first half of 2013, the company posted an average revenue per available room of P6,989 each night at its resorts, based on its financial statement.
Ayala Land is working to expand its tourism-related business that it earlier identified as one of the growth engines of the country, as it works to expand its footprint in several locations in the Philippines.
“We want to have a balanced growth. We will keep on investing on the recurring part to give us far greater stability,” Aquino said in an earlier interview.
Ayala Land aims to develop a total of 1,000 hectares of tourism-estate properties in choice parts of the country.
For 2013, the company reported profits reaching P11.74 billion, 30 percent higher than last year’s P9.04 billion. Consolidated revenues reached P81.52 billion, 36 percent higher year-on-year.
Revenue from its hotels and resorts grew by 64 percent to P4.02 billion in 2013 from P2.45 billion the previous year, primarily driven by contributions from new hotels and resorts.
The company, through Ayala Land Hotels and Resorts Corp. currently operates 1,294 internationally branded hotels, including Hotel InterContinental Manila, Cebu City Marriott, Fairmont Hotel and Raffles Residences Makati, Holiday Inn and Suites Makati and 515 Seda Hotel at the Bonifacio Global City in Taguig, Centrio Cagayan de Oro and Abreeza Davao.