Stock News 2010: RLC builds 3 more budget hotels

Image via WikipediaMANILA, Philippines - Robinsons Land Corp. is building three more budget hotels, located outside Metro Manila, in addition to its pilot site at the Robinsons Pioneer Cybergate complex in Mandaluyong City.
Slated for opening on May 19, Go Hotel-Pioneer will offer 225 rooms with sizes ranging from 16 square meters to 22 square meters each. Rates vary from P388 to P3,000.
In the pipeline are branches in Tacloban, Palawan and Dumaguete which are expected to be developed in the next three to five years.
The Palawan site is expected to have 80 to 100 rooms Go Hotels is the fifth hotel property of RLC next to the 285-room Crowne Plaza Galleria Manila, 263-room Holiday Inn Galleria Manila, 210-room Cebu Midtown Hotel and the 108-room Summit Ridge Hotel Tagaytay.
RLC president and chief operating officer Frederick Go earlier said the budget hotel was a good fit for lowcost carrier Cebu Air and a perfect choice of budget-conscious travellers.
In the fiscal year ending September 2009, RLC’s hotel division registered revenues of P1.04 billion or about 10 percent of total revenues.
Zinnia Dela Peña
May 12, 2010
http://www.philstar.com/Article.aspx?articleId=574376&publicationSubCategoryId=66

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Stock News 2009: Gokongwei firm to open Tagaytay hotel

Image via WikipediaMANILA, Philippines--The Gokongweis’ Robinsons Land Corp. is set to open next month a 108-room hotel called “Summit Ridge” in Tagaytay City, the fourth member of its hotel portfolio.
The property developer has also firmed up plans to launch by next year a budget hotel chain called “Go Hotel,” which seeks to capitalize on the synergies with affiliate budget carrier Cebu Pacific Air, RLC president Frederick Go told reporters.
“The one in Tagaytay, I think it will be a successful hotel. It has the most commanding ridge view of Taal Volcano and climate is the best,” Go said.
The pilot site for the Go Hotel chain, on the other hand, is in Pioneer Street, Mandaluyong City. It will occupy two floors of the Robinsons Cybergate Plaza and offer 229 rooms to budget-conscious travelers.
“It’s a budget hotel chain which we think will do well especially because we can have an alliance with Cebu Pacific which is the largest budget airline. There is similarity between the markets they serve,” Go said.
In its fiscal year ending September 2008, the hotels division accounted for P1.14 billion or about 10 percent of total revenues. The group’s revenues last year went up 3 percent from a year ago.
The three other existing hotels in RLC’s portfolio are the 285-room Holiday Inn in Pasig City, 263-room Crowne Plaza in Quezon City and 210-room Cebu Midtown Hotel. These hotels reported a respective occupancy rate of 76 percent, 70 percent and 52 percent in 2008.
Doris Dumlao
April 19, 2009
http://www.robinsonsoffices.com/apr-jun2009.html

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