MANILA, Philippines - Roxaco Land Corp. is focusing on building more hotels in the country, as it eyes a bigger share of the tourist market.
The property unit of Roxas & Company has recently started construction on the first of five Go Hotels, under its joint venture with Vanguard Hotels of Singapore.
RCI Chairman and President/CEO Pedro E. Roxas said Roxaco is concentrating on building new hotels in different categories in the next few years, as Department of Tourism estimates over 20,000 new rooms are needed by 2016.
"Roxaco is committed to building hotels in the next few years that will cater to the approximately 35 million local travelers," he said in a statement.
Roxas said the company is hoping to finish building and open five Go Hotels in Metro Manila before the end of 2016. "Go Hotel" is the value hotel brand of the Gokongweis' Robinsons Land Corporation.
The first Go Hotel under their joint venture with Vanguard Hotels is located near the Ninoy Aquino International Airport (NAIA) along Quirino Avenue in Paranaque City.
"We are eyeing to breaking ground on another hotel property in North Edsa, Quezon City within the year and are in the process of identifying additional sites within the metropolis," he said.
Santiago R. Elizalde, Senior Vice President of Roxaco Land Corporation, said the Go Hotel near NAIA is estimated to be completed and operational before the end of 2014.
"Work on the project has started and we hope to have our first hotel for this brand up and running by December 2014," Elizalde said.
Roxaco signed the JV with Vanguard Hotels last December. Under the deal, Roxaco will initially build and operate a minimum of five "Go Hotel" properties over the next two to three years. Each of the hotels, envisioned to be up by 2016, will have approximately 180 to 200 keys.
"The commitment of Roxaco is that together with our partners we will be building and opening the 'Go Hotel' properties within the committed timeframe. While our focus is Metro Manila, we are also exploring a number of provincial locations," he said.