CEBU Landmasters Inc. (CLI) has cemented its footprint in the hospitality sphere with the opening of lyf Cebu City.
In a disclosure to the Philippine Stock Exchange on Tuesday, Jan. 16, 2024, this new hotel serves as the first lyf property in the VisMin region, and the second in the Philippines.
Operated by The Ascott Limited, lyf (pronounced ‘life’) stands for “live your freedom,” the mantra of its target market of dynamic travelers.
Lyf Cebu City is located at CLI’s mixed-use property Base Line Center in mid-town Cebu near Fuente Osmeña Circle.
The hotel offers 159 rooms of “one-of-a-kind” (studio queen), “side-by-side” (studio twin), “all-together” (two-bedroom) and “all-together” (four-bedroom) units.
The opening of lyf Cebu City brings CLI’s operational hotel count to three, following the launch of The Pad Co-Living last month with 258 rooms and Citadines Cebu City in 2019 with 180 rooms. Its opening also gives CLI 10 projects under its hospitality portfolio, which now features more than 1,700 keys and 316 rooms currently completed.
“We are excited for the opening of lyf Cebu City that offers young travelers an exciting blend of modern accommodations and a dynamic environment unmatched in Cebu. CLI’s hotel portfolio is growing and we are happy to offer a unique experience to VisMin’s growing tourism market,” said CLI Hotels & Resorts director Mathias Bergundthal.
Besides The Ascott Limited, CLI also has partnerships with other international hotel operators, including Radisson and Accor, and with local players like the Abaca Group.
Another hotel from the listed company is underway with the 200-room Citadines Bacolod City set to open in March 2024. Radisson Red with 144 rooms will also open by the end of the year.
CLI said its unaudited revenue from its hospitality business logged a 67 percent increase year-on-year in 2023.