Megaworld to lean on e-commerce as pandemic hits bottomline


Posted at Jun 29 2020 09:58 PM

MANILA - Megaworld said on Monday said it is boosting its e-commerce facilities to hasten the recovery of its commercial and hotel businesses which were hit hard by the COVID-19 pandemic. 

The company said it will roll out digital platforms in the coming weeks, including its E-CONCIERGE mobile app that allows hotel guests to check-in and check out without coming into contact with hotel staff, as well order food from inside the hotels. 

The property giant said its hotel revenues were down 4 percent to P551-million in the first quarter as check-ins, particularly from international guests, dropped because of the pandemic. 

Megaworld’s net income for the first quarter dropped 8 percent to P3.8 billion.

“Our e-commerce platforms will give our customers the convenience and comfort that they need as we take their safety and well-being to a whole new level. We will also do the same for our mall customers, which will also greatly help our retail tenants,” said Kevin Tan, chief strategy officer, Megaworld. 

The company said it has also reduced its capital spending for the year from P60 billion to just P36 billion.