SM Investments Corp. (SMIC), the listed investment holding firm of the family of taipan Henry Sy, has appointed anew Singapore-based Carlson Hotels Worldwide – Asia Pacific to operate its P2.67-billion hotel in Cebu City slated for opening in the first quarter next year.
SMIC earlier signed an agreement with Carlson, one of the world’s leading hotel franchisors, to manage the conglomerate’s two soon-to-rice hotels within the SM Mall of Asia complex along Roxas Boulevard, estimated to cost around P2.4 billion.
In a disclosure to the Philippine Stock Exchange, SMIC said the 400-room hotel at the heart of Cebu City will operate under the upscale Raddisson brand, one of Carlson’s full service hotel brands. To be known as Raddisson Hotel Cebu, it will feature 10 function rooms, a 1,000-square meter ballroom, a spa and a fitness center, a lobby lounge and an all-day dining restaurant.
Merril Yu, senior vice president for SM’s hotel group, said: “We already enjoy an exceptionally synergistic relationship with the Carlson Group, having them in our Manila Bay location. It makes sense to extend this to our product in Cebu and reap the tangible rewards of an established partnership.”
The two other Carlson-managed hotels — Regent Manila Bay City and Raddisson Hotel Manila Bay City — are scheduled to open in the third quarter of 2010 and will house a total of 580 guest rooms.
The structure has been designed for one hotel (The Raddison) with 500 upscale guest rooms, and another hotel, (The Regent) with 80 luxury suites, including a 400-square meter presidential suite. These two hotels will boast world-class amenities such as business centers, swimming pools, fine-dining restaurants and extensive function facilities.
The Carlson Group operates five lodging chains with more than 950 properties in some 70 countries. Aside from the Raddison and Regent Hotels, it also owns the mid-market Park Plaza Hotels & Resorts chain, as well as the Park Inn economy brand. Its Country Inn & Suites chain provides extended-stay service at about 420 locations.
The group likewise owns the brands T.G.I. Friday’s and Regent Seven Seas Cruises, among others.
The SM Hotel Investment Group is aggressively beefing up its hotel portfolio with plans to add a total of 532 hotel rooms at the end of the year from the existing 128 rooms.
By end-2008, the group expects a total of 660 hotel rooms and is seen to grow further to 1,394 guest rooms by the first half of 2010.
The SM Hotel Investment Group owns the Taal Vista Hotel in Tagaytay City, which is being expanded to include an additional 132 rooms from the current 128 rooms. Estimated to cost P650 million, the expansion will likewise add a 1,000-seater grand ballroom and six meeting rooms, scheduled to be completed the fourth quarter of this year.