FILINVEST Hospitality Corp., a unit of conglomerate Filinvest Development Corp., is ramping up plans for its hotel and resort portfolio this year with a focus on quality hotel expansion and new resort developments amid continuing domestic and international tourism opportunities.
Newly appointed CEO Francis Gotianun told reporters last week that the company was revisiting its strategy to place greater emphasis on room quality and overall guest experience rather than simply hitting numerical targets.
“I think we could easily push out 2,000 rooms if we wanted, but to create a hospitality product that is meaningful and done well, that’s a whole other thing,” he said.
Gotianun highlighted ongoing projects, including the new Crimson Mactan renovation and upcoming beach resorts, as part of a portfolio upgrade designed to deliver strong returns per room.
With an optimistic outlook for this year, he said Filinvest Hospitality was planning substantial capital expenditures on its hotel and resort portfolio, but did not disclose any figures.
He added that the company’s assets have been performing well, claiming that Filinvest Hospitality has among the highest earnings before interest, taxes, depreciation and amortization per room in the sector “because of the quality of the room portfolio that we have.”
“Hospitality is a tough space,” Gotianun said, emphasizing the need for careful investment and strategic management to ensure favorable shareholder returns.
Filinvest is also expanding its presence in high-potential destinations, he continued, explaining that acquiring and developing prime land often involves long-term planning that could take decades.
“[W]e have a Coron property now that we had purchased, right? So, it’s good. So, we’re completing all of the different locations and dreaming about what is the right thing to put there to maximize the value of those parcels.”
On the tourism front, Gotianun cited growth opportunities amid continuing healthy domestic and international visitor arrivals, noting in particular that domestic tourism remains strong, partly fueled by increased local awareness of Philippine destinations since the pandemic.
He expressed optimism that improvements in visa processing and airport infrastructure, including privatization initiatives at Mactan-Cebu International Airport and Clark International Airport, would help attract more foreign visitors.
“There’s a clear correlation between the number of direct flights and hotel performance,” Gotianun said, noting Cebu’s success in boosting occupancy through increased international connections.
He added that the Philippines must continue upgrading its tourism ecosystem to remain competitive with regional peers such as Vietnam, Cambodia and Laos.
“All these incremental improvements hopefully get us to a tipping point,” he said, voicing hopes that the ongoing tourism momentum would cement Filinvest Hospitality’s role as a key growth engine within the group.
Shares of parent Filinvest Development Corp. added P0.19, or 4.31 percent, to close at P4.60 each on Friday.
