Ex-Asian Spirit owner goes into hotels

MANILA, Philippines - Former Asian Spirit majority shareholder Archie Po is building a chain of mid-price boutique hotels in select tourism hotspots.

In an interview, Po said the government should focus its attention on the tourism sector rather than try to compete in the manufacturing sector which faces stiff competition from powerhouse China.

In developing the tourism sector, Po said the focus should be on tourism hotspots which offer a potential of repeat visits such as in Boracay.

Po said his chain of boutique hotels will cater to the mid-price range market rather than to the exclusive high-end luxury market.

With the continuing high cost of transport, Po believes that up-market hotels and boutique resorts may be more of a potential investment risk.

Po said he is going into boutique hotels because it is a dream of his and is not built with an immediate ROI (return on investment) in mind.

Under his real estate firm, Kifessia Realty Corp., Po has constructed his second boutique hotel on Boracay island.

Hotel Soffia, is a 59-room hotel on a hilltop located in Barangay Yapak in Boracay which offers a stunning 340-degree view of a portion of the famous West or White beach, the North or Puka beach and the East Beach where the Fairways and Bluewaters golf course is located.