MANILA - Movenpick Hotels said Thursday it was planning to build as many as 5 new hotels in the next 5 years as it sought to capitalize on the local tourism boom.
The company will open a Boracay Hotel within the year, its second in 7 years after Cebu, Movenpick senior vice president for commercial operations Paul Mulcahy said.
Movenpick is looking at Manila, Baguio, Davao and Palawan for future expansion, Mulcahy told ANC's Market Edge with Cathy Yang.
"Overall, we see the Philippines as a major opportunity for us," Mulcahy said.
"When we move into a market, we really put all our effort into making it a success," he said.