Wednesday, September 19, 2007 SM signs contract for hotel in Cebu
SM Investments Corp. (SMIC), through its Hotel Investment Group, signed a contract with Accor to operate its hotel beside SM City mall at the north reclamation area in Cebu City.
The 400-room hotel, which will be considered a five-star establishment, will be branded as Sofitel.
Accor is the European leader in hotels and tourism. It operates more than 3,800 hotels with a total of 450,000 rooms in 90 countries. Its hotel chains include the names Sofitel, Pullman, Novotel, Mercure, Suitehotel and All Seasons.
“We welcome this partnership with Accor to operate Sofitel, Cebu as a major step in SM’s bid to invest in the Philippine hotel and tourism business. It excites us to offer no loess than a five-star facility in this region, which continues to be one of the country’s major sources of exports and is a prime turism destination for its many beaches, dive spots and other interesting sites,” said Merril Yu, senior vice president of SM’s Hotel Investment Group.
(Design)
The P2.8 billion hotel has been designed by Wimberly Allison Tong and Goo, a global leader in design. The design will be a contemporary mix of international and local images, and will make guests feel that they are truly in the Philippines.
The Hotel Investment Group of SM is positioned as a progressive development group that will optimize multiple investment vehicles in travel and tourism, and consequently, add value to the existing businesses of SM.
The group also owns the landmark Taal Vista Hotel, which is being expanded to have a total of 260 rooms from the current 128. The P650 million expansion will likewise add a 1,000-seater grand ballroom and six meeting rooms.
Other SM hotel projects in the pipeline are two hotels in SM BayCity to include the recently announced Microtel project, a hotel in Hamilo Coast in Batangas, and boutique hotels in selected areas in Luzon and the Visayas. (PR)
