MANILA, Philippines – Hotel of Asia Inc., a subsidiary of DoubleDragon Properties Corp., plans to double its JinJiang Inn hotel rooms to 2,000 in the next five years.
Mang Inasal founder Edgar “Injap” Sia II said “the accelerated expansion aim is in line with the expected surge in Chinese business activities and tourists in the Philippines.”
Sia and Tan Caktiong joined the 400-strong delegation of mostly Filipino-Chinese businessmen that joined President Duterte during his state visit to China.
According to Sia, the hospitality industry is expected to continue to be one of the fastest growing segments in the country.
“It is an ideal way for us to increase our leasable portfolio in line with our focus of creating recurring revenue backed by appreciating assets,” Sia said.
HOA is the exclusive master franchisee of JinJiang Inn in the Philippines.
“JinJiang Inn is one of the largest hotel chains in China, and we are excited to further grow the brand to support the expected influx of the Chinese guests and tourists to the Philippines,” Sia said.
At present, JinJiang Inn has two operating hotels in the country, one in the Ortigas district, and another one in the Makati district.
Areas eyed for expansion are 20 key cities and provinces such as Quezon City, Manila, Boracay, Cavite, Baguio City, Tagaytay City, Subic, Roxas City, Clark, Iloilo City, Cebu City, Bacolod City, Dumaguete City, Bohol, Palawan, Cagayan De Oro City, Davao City and Zamboanga City.
DoubleDragon has recently completed the acquisition of a majority stake in Hotel of Asia Inc. , allowing it to further optimize the use and value of its string of prime commercial properties in various parts of the Philippines.