SM Hotels & Conventions Corp to expand portfolio to meet tourism growth

Saturday, April 29, 2023

According to SM Hotels and Conventions Corp EVP Peggy Angeles, the Sy-led SM Group intends to constantly expand its hotel portfolio to meet increased demand as the tourism sector grows.

SM properties now has 9 properties in its portfolio, which will rise to 11 in the next two months, according to Angeles.

“The tourism industry is probably, as far as the Philippines, is concerned is still in its infancy stage… I think where it can be feasible and financially viable, that’s what we’re going,” she said.

Market behaviour has shifted away from leisure-led tourism in 2023, with an increase in business travel and the Meetings, Incentives, Conferences, and Exhibitions (MICE) category, she noted.

SM properties and Conventions Corp previously stated that it planned to invest around P15 billion to expand its Radisson Hotel Group portfolio with 14 additional properties by 2028.

SM Hotels and Conventions Corp. (SMHCC) was established in April 2008 with the primary purpose of developing and managing the hotel and convention properties of SM Prime, one of the largest integrated property developers in Southeast Asia. SMHCC is guided by its mission to be the leading hotel and convention company in the Philippines and its vision to build and operate hotels and convention centers that take pride in Filipino warmth and hospitality.

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