MANILA - SM Hotels and Conventions Corp (SMHCC) said it is looking to spend around P15 billion to grow its Radisson Hotel Group portfolio with 14 new hotels by 2028.
Radisson, a Brussels-based company that operates hotels and resorts across the globe, is signing a master development agreement with SMHCC.
RHG CEO Federico Gonzalez said their goal is the be one of the top 3 hotel brands for owners, guests and employees. The company currently has 480 hotels in operation in the Asia Pacific region, and is seeking to double its APAC portfolio within 5 years.
Gonzales said the Philippines “will soon become very active” for the company.
RHG also not worried about the looming recession, saying the industry is “immune” in its own way, since it took the hardest hit during the pandemic and is just recovering now.
The 14 new hotels will be focused outside of Metro Manila like Cebu, Isabela, Olongapo, Laoag, Fairview, Dasmarinas Cavite, Sta. Rosa Laguna. The new hotels will be branded as PARK INN by Radisson, the midscale segment out of RHG’s 9 brands.
SMHCC said the deal will generate up to 1,200 jobs generated for locals in the areas where the new sites will rise.
There are currently 6 RHG hotels in the PH, all with SM Group: 5 are Park Inn by Radisson, and 1 is Radisson Blu in Cebu.