11
Colliers Radar Philippines | Research 11 July 2018 Ceboom! Developers Capture Cebu's Tourism Gains
Colliers Radar
Philippines | Research 11 July 2018
Ceboom! Developers Capture Cebu's Tourism Gains
2 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
By Joey Roi Bondoc Manager | Research
Cebu is one of the Philippines'
most popular tourist destinations.
The recent modernisation of its
international airport should enable
the island-province to attract more
leisure and business travellers,
thereby further propelling demand
for both budget and luxury hotels.
With an improving road network
complementing the expanded
airport, Colliers projects a more
pronounced development of hotels
and resort-oriented condominiums
over the next three to six years for
the destination.
To complement this, Colliers
believes that local and national
developers can create value add
opportunities in the booming Cebu
tourism sector by bringing in more
foreign hotel and serviced
apartment brands.
We encourage developers with
existing hotels to improve loyalty
programmes, expand meeting
facilities, and consider integrating
health and retirement facilities.
Ceboom! Developers Prepare to Benefit from Cebu's Tourism Gains
The completion of the second terminal of Mactan-Cebu
International Airport (MCIA) should further boost Cebu’s
attractiveness as a tourist destination. The opening of
the new terminal also comes at an opportune time given
the national government’s decision to close the popular
Boracay island for six months to pave the way for its
rehabilitation.
In 2017, Cebu attracted 4.9 million foreign and domestic
tourists which sustained hotel occupancy of 78%, higher
than the 70% recorded in 2016. MCIA is the country’s
second busiest airport and its expansion should help
sustain Cebu's hotel occupancy between 70% and 75%
over the next 12 to 36 months.
Benefiting from the robust tourist arrivals are the city’s
hotels and residential condominiums being offered to the
short-lease market. Cebu houses a wide range of
accommodation facilities that cater to both young, urban
professionals on a weekend getaway and investors on a
short business trip.
Colliers believes that demand for more leisure
investments such as hotels and serviced residences will
also be fuelled by Cebu’s thriving outsourcing and
industrial sectors. Medical tourism is another bright spot
for the island-province's growing hospitality segment.
Colliers sees tourism becoming a major plank of Metro
Cebu’s economy moving forward. As such, we would
expect the sector’s growth to spill over to other sectors
such as retail and food and beverage and the associated
supply chains.
Annual Passengers at Mactan-Cebu International Airport (MCIA), (in Millions)
Source: Mactan-Cebu International Airport Authority
0
2
4
6
8
10
12
2010 2011 2012 2013 2014 2015 2016 2017
3 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
ContentsCeboom! .............................. 2
Contents 3
Cashing in on the Tourism Boom ............... 4
Metro Cebu's Hotel Stock ........................... 6
Cebu Tourism's Growth Drivers ................. 6
Locals Go Global ........................................ 7
National Developers Maximize Homegrowns .............................................. 8
Recommendations ..................................... 9
4 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
Cashing in on the Tourism Boom
Cebu is one of the most visited tourist destinations in the
Philippines. It is popular for its beach resorts and cultural
tourist destinations. Local and foreign visitors flock to
Cebu given the comforts of an urban landscape with
stunning natural attractions.
Thriving commercial activities and attractive beaches
make Cebu a popular business and leisure destination,
recently overstretching the capacity of its airport. From
only 2.1 million passengers in 2000, as Cebu’s appeal as
a destination grew exponentially, MCIA accommodated
over 5 million passengers in 2010, rising to about 10
million in 2017, more than double the airport’s capacity
of 4 million passengers.
The opening of the second terminal at MCIA in June
2018 raises the airport’s annual capacity from 4 million to
12.5 million passengers. This is likely to facilitate a
projected surge in tourist arrivals, which means that
there will be a need for more accommodation facilities in
Cebu, such as hotels and serviced residences.
MCIA Terminal 2: By the Numbers
Source: Mactan-Cebu International Airport Authority; various newsclips
The new passenger terminal spans about 65,500 sq m
(705,000 sq ft). With an expanded airport, Cebu is being
positioned not just as a transfer hub to other islands in
Visayas and Mindanao, but also as a gateway to other
countries. At present, the airport serves more than 30
local destinations with seven airlines, including Cebu
Pacific, Philippine Airlines, PAL Express, AirAsia,
AirSwift and Air Juan offering daily scheduled flights. The
airport also serves 22 international destinations with 17
foreign carriers.
Tourist arrivals from China should increase following the
opening of eight new routes to China in 2017. The
airport's operator is also planning to expand direct flights
to Japan, India and South Korea.
Colliers believes that Cebu has the potential to be at par
with neighbouring destinations such as Bali and Phuket
in terms of hotel and resort development. At present,
Cebu has only one-fifth of Bali’s and Phuket’s room
stock. However, we see Cebu becoming a major leisure
investment destination in the region given its improving
accessibility and the sustainability of traditional demand
drivers such as the outsourcing and industrial sectors.
Cebu Regional Comparison
Bali Phuket Cebu Boracay
Land Area
(sq km)
5,780 576 4,468 10.3
Population
(million)
4.23 0.39 4.63 0.03
Visitors
(million)
6.5 8.4 4.9 2.0
Hotel rooms
50,000 47,475 10,600 9,930
Visitor per hotel room
130 177 462 201
Sources: Department of Tourism, Colliers International Philippines
Research
Among the national developers that we see benefiting
from the thriving leisure sector in Cebu are Udenna
Group, Filinvest, Ayala Land, Rockwell, Megaworld,
Robinsons Land, and SM Prime.
Local developers including Cebu Landmasters, Grand
Land, Tanchan Corporate Group and AppleOne
Properties have teamed up with international brands,
and we project they will compete with similarly
internationally branded hotels and serviced residences
going forward.
Metro Cebu
Source: Google Maps
Aside from the modernised and expanded airport,
Colliers sees Cebu’s tourism sector surging due to a
number of infrastructure projects which should open new
opportunities in the countryside. The completion of these
projects should spur demand for more accommodation
5 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
facilities outside Metro Cebu (which comprises Cebu
City, Lapu-Lapu, and Mandaue) corridor.
Among these road projects are the Cebu-Cordova
bridge; Metro Cebu Expressway; Cebu-Negros Link
Bridge; Cebu-Bohol Link Bridge; and the Bus Rapid
Transit (BRT) system.
Proposed Metro Cebu Infrastructure Projects
Source: Department of Transportation and Public-Private Partnership
(PPP) Center
Other key developments that should boost Cebu’s
tourism industry include the lowering of airfares for
domestic travellers as local airlines compete for bigger
market share. In addition, the approval of the ASEAN
Multilateral Agreement in Air Services, that allows
Philippine air carriers to fly an unlimited number of times
to the capital cities of other Southeast Asian countries,
should also enhance competition.
Cebu's tourism should also benefit from the Philippine
and Chinese governments’ signing of an agreement on
tourism cooperation. This includes exploring a possible
increase in capacity entitlements in air services, and
encouraging airlines to open new routes between
Philippine cities in the Visayas and Mindanao regions
and those in China.
The latest available data from the Tourism Department
reveal that for 2017, Cebu attracted 4.9 million domestic
and foreign tourists. This is 20% higher than the 4.0
million visitors recorded in 2016. Chinese, Korean, and
Japanese tourists continue to be the main source
markets for foreign arrivals in Cebu – accounting for
more than 70% of total visitors during the period.
Cebu Tourist Arrivals (Million)
Source: Department of Tourism
The latest data from the Tourism Department reveals
that Chinese tourists’ average daily expenditure (ADE)
rose to USD233 in 2017 from USD63 in 2016. Over the
same period, American tourists’ ADE increased by 28%
to USD247 while Japan’s grew by 9% to USD121. In
2017, Chinese tourists stayed for an average of 6.3
nights, an increase from the 4.2 nights in 2016.
American visitors also stayed longer in 2017, with an
average length of stay (ALS) of 12.4 nights, up from 11.2
in 2016.
Arrivals by Country of Origin
Source: Department of Tourism
Average Daily Expenditure (USD)
Market 2016 2017 Growth Rate
China 63 233 270%
South Korea 193 247 28%
Japan 111 121 9%
USA 72 64 -11%
Returning OFW*
54 31 -43%
Source: Department of Tourism; *Overseas Filipino Workers
0
2
4
6
2016 2017
South Korea, 36%
China, 17%,
Japan, 16.60%
USA, 9%
Others, 21%
6 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
Average Length of Stay
Market 2016 2017 Growth Rate
China 4.2 6.3 50%
South Korea 5.1 5.9 16%
Japan 5.9 6.8 15%
USA 11.2 12.4 11%
Returning OFW
15.7 19.2 22%
Source: Department of Tourism
Colliers believes that the continued surge of tourists in
the Metro Cebu should provide impetus for developers to
ramp up construction of hotels and resort-oriented
condominium projects. Colliers sees total domestic and
foreign arrivals in Cebu rising by 10-15% annually over
the next two to three years. This should also sustain
hotel occupancy of between 70% and 75% across Metro
Cebu annually through 2020.
Cebu Hotel Occupancy Rate
Market 2016 2017
Cebu 70% 78%
Source: Colliers International Philippines Research
The projection for Cebu tourism remains robust to the
point that GMR-Megawide, the consortium behind the
MCIA Terminal 2 project, is already planning to submit a
USD4.0 billion proposal to construct Cebu Airport's
second runway and third terminal.
Metro Cebu's Hotel Stock
Metro Cebu (covering the cities of Cebu, Lapu-Lapu, and
Mandaue) offers an estimated 10,600 hotel rooms.
Cebu City accounts for more than one-half of the stock
with almost 6,000 rooms, about two-thirds of which are
three-star hotels. Some 1,160 rooms are classified as
four-star while only two hotels – Marco Polo and
Radisson Blu – are classified as five-star.
Resort projects in Mactan account for one-third of Metro
Cebu's hotel room stock. Among the five-star resorts in
Mactan are Movenpick Resort, Plantation Bay, and
Shangri-La Mactan.
Mandaue lags behind Cebu City and Mactan in terms of
hotel room supply. The city only has seven three-star
hotels offering close to 1,200 rooms.
Metro Cebu Hotel Stock
Location Number of Rooms
Cebu City 5,900
Mactan 3,500
Mandaue 1,200
Total 10,600
Source: Colliers International Philippines Research; *covers three-to
five-star hotels
Colliers sees the completion of an estimated 4,000
rooms over the next four years. This should raise Metro
Cebu's hotel room supply by 36% by the end of 2021.
We expect half of the new hotel rooms to be developed
within resort-oriented estates.
Cebu Tourism's Growth Drivers
1) Business Process Outsourcing (BPO)
Going forward, we see Metro Cebu's outsourcing and
industrial sectors boosting hotel occupancy across the
island province. This should be complemented by Cebu's
thriving medical tourism and “staycation” markets.
Outsourcing firms continue to locate and expand in
Cebu. Knowledge Process Outsourcing (KPO) firms or
those that provide higher-value services such as medical
coding, software engineering, and finance and
accounting are continuously expanding while offshore
gaming is emerging as a major pillar of the Cebu office
market. The executives of outsourcing firms, especially
those located within Cebu’s major business districts –
Cebu Business Park and IT Park – should propel
demand for high-end accommodation facilities in Cebu
City and emerging areas such as Mactan and Mandaue.
We see Cebu’s outsourcing workforce rising by about
5% to 10% annually over the next three years and this
should also make Cebu a viable market for two and
three-star hotels which mainly cater to budget-conscious
young employees in the city, and their friends and family.
2) Returning Overseas Filipino Workers (OFW)
Cebu is part of the Central Visayas region, which is a
major source of migrant workers. Being the largest and
most visited metropolis in the Visayas region, Cebu also
attracts returning OFWs from other parts of Visayas.
Collectively, Western, Central, and Eastern Visayas
account for nearly 18% of all Filipino workers deployed in
2017. The increasing deployment of OFWs from Cebu
and nearby island-provinces should result in more
7 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
migrant workers coming back to the country for a short
vacation with their families and should sustain demand
for hotels and serviced apartments especially catering to
the staycation market.
3) Industrial sector
Outside of Luzon, Cebu remains a major hub for
industrial operations. Manufacturing accounts for a
quarter of Central Visayas’ economy. Colliers sees
Cebu’s export sector being driven by the continuing
strong economy of the Philippines’ top trading partner,
the United States; implementation of trade deals with
neighboring ASEAN economies and the Eurozone; as
well as sustained manufacturing investments from Japan
and China. Cebu’s four- and five-star hotels meet the
discerning preferences of visiting foreign executives.
Meanwhile, Cebu’s port is up for a major upgrade
following the Korean government's plan to finance its
expansion. This should further buoy industrial activities
in Cebu and propel hotel demand from workers, visiting
foreign investors and expatriates.
4) Cebu's potential as a medical tourism hub
Southeast Asian economies such as Thailand, Malaysia,
Singapore, and India have long been established as
among the world’s largest medical tourism hubs. But
Cebu is planning to capture a larger share of the global
medical tourism pie by providing quality health services
at a fraction of the cost compared to its Southeast Asian
peers.
Cebu has the potential to become a major player given
the number of medical graduates that the island-province
produces per year (about 12% of Metro Cebu’s more
than 25,000 graduates annually hold relevant medical
degrees) and the relatively cheaper cost of medical
services (about 50% to 80% cheaper compared to cost
of comparable health services in Europe and North
America).
In 2017, the Cebu Doctors’ Group (CDG) of Hospitals
allotted P500 million (USD9.4 million) for the expansion
of six hospitals over the next three to four years. These
are Cebu Doctors’ University Hospital, Mactan Doctors’
Hospital, SouthGen Doctors’ Hospital, NorthGen
Doctors’ Hospital, Ormoc Doctors’ Hospital and the San
Carlos Doctors’ Hospital. The modernization of these
hospitals should contribute to Cebu’s goal of becoming a
prime medical tourism destination in Asia.
Locals Go Global
These demand drivers should compel national and local
hotel developers to value enhance their properties. This
can be achieved quite quickly by either bringing in
foreign hotel operators or maximizing homegrown
hospitality brands. Leisure investors in Cebu have been
successful in employing these strategies and we see the
continued implementation of these plans moving
forward.
We note that local developers have been partnering with
foreign brands to develop hotels and serviced
apartments. Foreign branding is important particularly in
the high-end (four and five star) markets. Local operators
hoping to maximize the popularity and experience of
these global brands, are evidenced by the following
projects.
Citadines Cebu. We expect this 180-room property to
open in 2019, as part of Cebu Landmasters, Inc's (CLI)
Base Line Center, a 1.6-hectare mixed use office and
residential complex. Citadines is planned to be managed
by Ascott, a global operator of serviced residences.
Citadines should complement the hotel and serviced
residence requirement of executives working in and
outside of Base Line Center.
The Sheraton Mactan. Cebu-based AppleOne Properties
has partnered with Starwood Hotels and Resorts
Worldwide to develop the 250-room Sheraton Cebu
Mactan Resort in Punta Engano, Lapu Lapu City.
Scheduled to be completed in 2020, the project also
offers 154 residential units. The size of the rooms range
between 60 sq m (645 sq ft) and 310 sq m (3,300 sq ft)
and is reported to be 60% sold as of 1Q 2018. This is
Sheraton’s first branded resort residential development
in Southeast Asia and is planned to open by 3Q 2019.
The Sheraton Mactan
Source: Starwood Hotels
The Suites at Somerset Gorordo. The 28-storey tower is
planned to offer 160 residential units and 150 serviced
apartments. The project is located at the corner of the
busy Gorordo and Archbishop Reyes Avenues in Cebu
City. The residential segment is about 54% sold as of 1Q
2018. The project is being developed by Worldwide
Central Properties, Inc. and The Ascott Limited.
8 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
Dusit Princess Hotel. Grand Land is bringing the Dusit
hospitality brand to Cebu through Dusit Princess Hotel.
The hotel is scheduled to open in 2020 with 295 rooms.
Grand Land has also partnered with Dusit International
for the development of Dusit D2 Cebu. The facility will
have 163 serviced apartments and is slated for
completion in 2022.
Dusit D2 by Dusit International and Grand Land
Source: Grand Land
Courtyard by Marriott Cebu. Cebu’s Tanchan Corporate
Group is scheduled to open a 241-room Courtyard by
Marriott Cebu in 2021. Aside from its 24/7 gym and
restaurant, The hotel is planned to also feature a 400 sq
m (4,300 sq ft) ballroom and two multi-purpose meeting
rooms.
Radisson Red. Cebu Landmasters is building a 146-
room Radisson RED hotel in Mandaue. The first
Radisson RED hotel in the country is scheduled to open
by 2021.
Holiday Inn. Ayala Land and Cebu Holdings have
partnered with local developer Taft Properties for the
development of a 14-hectare Seagrove project in Lapu
Lapu City. The resort-oriented development is planned to
feature a number of hotels, anchored by a Holiday Inn
Resort. Details of Holiday Inn’s first resort project in the
Philippines have yet to be disclosed.
National Developers Maximize Homegrowns
While local developers are bringing in foreign hotel
operators, national developers ie those investing across
the Philippines, are maximizing the popularity of
homegrown brands. Some of these local brands were
first introduced in Metro Manila, and in less than six
years these brands were able to carve out a niche in the
Visayas market.
Rockwell Land is developing its own Aruga brand as it
cashes in on its image of providing exclusivity and ample
open space to travellers. The 300-room hotel in Punta
Engano in Mactan, Cebu is scheduled to be delivered in
2021.
Ayala’s Seda hotel is scheduled to open in the third
quarter of the year. Located within ALI’s Cebu Business
park (CBP), the 301-room hotel formerly operated by
Marriott International should support the accommodation
requirements of foreign and local executives doing
business in and outside of CBP. This is Seda’s largest
in the Visayas region.
Megaworld is also building a 560-room condotel under
its Savoy brand. It is due to be completed this year.
Aruga by Rockwell in Mactan
Source: Rockwell Land
Another Seda hotel is planned to be constructed at the
Cebu IT Park. The hotel is due to be completed in 2019.
The Filinvest Group is building a 308-room Grafik Resort
in Mactan which primarily targets the millennial market.
This is in addition to existing Filinvest Group hotels in
Metro Cebu such as Crimson Resorts and Spa and
Quest Hotel.
Other developers seeking to benefit from the projected
surge in tourist arrivals in Cebu are Double Dragon,
which has announced plans to build Jinjiang hotels in the
city; Duros Land with its 23 Minore Park hotel; and
Megaworld with its developments under the Belmont
brand.
9 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
Seda Hotel at Central Bloc
Source: Cebu Holdings
The Udenna Group, which is emerging as a major
developer in the country, has obtained a provisional
license from Philippine Amusement and Gaming Corp. to
develop a USD300 million (PHP16 billion) integrated
gaming resort in Cebu. The project, called Lapu-Lapu
Leisure Mactan, is planned to include hotels and luxury
condominium units, among other leisure and
entertainment facilities.
Meanwhile, InterContinental Hotels Group and the
Erawan Group Public Company Limited are partnering
for the development of the first Holiday Inn in Cebu City.
The 180-room hotel is scheduled to open in 2020.
Holiday Inn Cebu City is planned to be in the Cebu
Business Park and thus benefit from outsourcing and
multinational corporations operating within the business
hub. It should also benefit from its proximity to the Ayala
Center Cebu.
Recommendations
More resort-oriented estates
Developing more integrated leisure attractions is a
practical route for local and national developers to
benefit from Cebu’s booming tourism sector. Colliers
sees Mactan and Mandaue benefiting from this
developer strategy.
Colliers encourages developers with massive landbanks
in Mactan and Mandaue areas to pursue resort-oriented
projects. National developers with vast experience in
developing integrated communities but lack substantial
land to develop should firm up partnerships with local
developers to strategically expand their landbank.
National developer Ayala Land focuses on integrated,
mixed-use projects in Metro Manila and Cebu. Among its
projects are Cebu Business Park and Cebu IT Park. To
benefit from the projected boom of Cebu’s hospitality
sector, Ayala has partnered with homegrown Taft
Properties for the development of the 14-hectare
Seagrove, an integrated resort project in Punta Engaño,
Mactan. The project, scheduled to be completed in 2020,
is planned to feature a number of hotels, support
restaurants and shops, an events ground, and a
mangrove forest. Seagrove should benefit from its
proximity to Cebu Airport and accessibility to Cebu City
via the Osmeña and Marcelo Fernan bridges.
Regional developer Hong Kong Land has also partnered
with Taft Properties for the development of a 20-hectare
mixed-use site along the Mactan Channel. Mandani Bay
is planned to feature office, residential, and retail towers.
The initial phase of the project, scheduled to be
completed by 2020, involves the construction of some
1,200 residential units.
Filinvest is also developing a 50-hectare coastal
township located along South Road Properties. The
development is planned to feature office towers,
condominium buildings, and retail and dining strip.
Mandani Bay
Source: Hong Kong Land
Improvement of loyalty programs and packages
Colliers believes that local and national hotel operators
in Cebu can retain and attract customers by offering
loyalty programs, as international operators very much
do. Among the perks that operators can provide to loyal
customers are free Wi-Fi access, discounts in
restaurants and room upgrades. Operators should
ensure their loyalty programs are easily accessible
online and through smartphones and tablets. Colliers
believes that operators should be aggressive in
partnering with app developers to access new tourism
markets and tailor offerings based on customers’
preferences.
10 Ceboom! Developers Capture Cebu's Tourism Gains | 11 July 2018 | Colliers International
We also encourage hotel operators to pursue a yield
maximisation strategy that considers average daily
expenditure (ADE) and average length of stay (ALS) of
foreign tourists. Factoring in ALS and ADE should
enable marketing budgets to be more targeted. This
should also guide developers in deciding the appropriate
mix of hotel rooms and apartment suites to be
constructed in the future.
Emphasis on heritage
Colliers encourages local and national hotel operators in
Metro Cebu to modernize facilities and renovate while
highlighting their hotels’ historical and cultural
characteristics. Enhanced experiential value plays a
major role in ensuring historic hotels’ success. Hence,
developers should leverage not only Cebu’s rich history,
but also the hotel’s where available. This strategy
should attract the more affluent travellers that are willing
to spend more for a unique guest experience.
Colliers also believes that developers should explore
other historical structures in Cebu City, Mactan, and
Mandaue that could be converted into hotels and other
accommodation facilities. To encourage more investors
to redevelop historical buildings, both local and national
governments should tout an attractive set of incentives to
potential developers.
Introduce more foreign brands
Given the surge in foreign visitors, Colliers believes that
Cebu is becoming a feasible market for internationally
recognized accommodation. Colliers believes that the
projected surge in arrivals and expanding ALS and ADE
of visitors from China, South Korea, Japan and the
United States should make Cebu a viable hub for more
foreign-branded hotels and serviced residences.
Colliers encourages local and national developers with
limited experience in operating hotels to team up with
foreign brands. This is particularly important for
operators that are targeting the high-end (four and five
star) international markets.
Hotels near new road projects
Developers should look for hotel development
opportunities along the nodes of major infrastructure
projects that are planned to be implemented over the
next two to four years such as the Cebu-Cordova Bridge;
Metro Cebu Expressway; Cebu-Negros Link Bridge;
Cebu-Bohol Link Bridge; and Bus Rapid Transit (BRT)
system. Colliers encourages developers to strategically
acquire parcels of land near these public infrastructure
projects given the high level of transit traffic that is
potentially available. Market positioning to consider
should include mid-market and below in particular.
More MICE facilities
Colliers encourages developers to complement their
hotels with MICE facilities as Cebu is becoming a
popular choice for major international events and
especially as airlift improves.
Over the past three years, Cebu successfully hosted a
number of major international events such as APEC
ministerial meetings, International Eucharistic Congress,
and preliminary events of the Miss Universe 2017
pageant. Cebu is also among the cities that hosted a
number of ASEAN 2017 meetings.
In 2019, Cebu is scheduled to host the Asia Routes
conference and is only the second Philippine city to host
the largest gathering of air transport stakeholders across
the region. Manila hosted the event in 2016. With an
estimated 1,200 foreign and local delegates, we see the
regional event further boosting Cebu’s overall hotel
occupancy in 2019 and raising Cebu’s stature as a MICE
destination in the region.
Hotels near MCIA are preferred venues for major events
and should maximize this advantage over hotels located
in say Cebu Business Park and IT Park by expanding
and building innovative MICE facilities especially within
hotels.
Integrate health and retirement facilities
Local and national developers should consider building
health clinics and retirement facilities alongside hotels to
capture the growing number of foreigners retiring in
Cebu.
Maayo Hotel, a 229-room hotel in Mandaue City, is
complemented by its medical tourism facility, Maayo
Medical. The latter offers a wide range of medical
services and is accredited by major health maintenance
organizations (HMO) in the Philippines. About 60% of
Maayo Medical’s walk-in guests are foreigners from
Japan, United States of America, Europe, and South
Korea.
Colliers believes that the concept of medical facilities
being built alongside hotels should become more
popular in Cebu moving forward as the island-province's
traditional visitor markets – China, South Korea, and
Japan – have ageing demographics.
Copyright © 2018 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
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Primary Author:
Joey Roi Bondoc
Research Manager | Philippines
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