Philippines:Ayala Land expedites commercial enlargement

Ayala Land, a major real estate developer, plans to increase the total number of hotel rooms in its group to 1,504, including the opening of a new hotel “Seda Manila Bay” (with 350 guest rooms) in the bay area of ​​Parañaque City in the metropolitan area by June. In Ayala Land’s hotel business, the average room occupancy rate in 2022 was 59%, up 6 points from the previous year, and the room occupancy rate in the resort business doubled from 12% in 2021 to 29%. In addition, in addition to opening the commercial building “One Ayala HQ Tower” in Makati City by the end of the year, we are accelerating business expansion by opening Ayala Mall Vermosa in Imus City, Cavite Province. (6th, Star)