Philippine Daily Inquirer
5:09 pm | Monday, October 14th, 2013
Henry Sy INQUIRER FILE PHOTO
CEBU CITY, Philippines — The SM group of tycoon Henry Sy has inked a deal with global hotel management group Carlson Rezidor to develop a new hotel property under the midscale brand Park Inn by Radisson in Clark, Pampanga, alongside a blueprint to expand to more places in the Philippines.
The new 150-room hotel adjacent to the existing SM City Clark is scheduled to open in 2016 and will mark the second hotel under the Park Inn by Radisson brand in the country after a maiden project in Lanang, Davao.
This deal thereby sets a blueprint to scale up the existing hotel business partnership between SM and Calson Rezidor hotel group. Under the new development agreement, SM Hotels and Conventions has identified five new sites and is pursuing five additional locations for Park Inn by Radisson, reflecting a “strong mutual” intent to grow the brand over the next five to eight years. The additional sites eyed include Mall of Asia, North EDSA and Iloilo.
The hotel management deal between SM Hotels and Conventions Corp. and Carlson Rezidor was signed at the sidelines of an ongoing conference hosted by SM-owned luxury hotel Radissons Blu attended by about 100 general managers across Asia-Pacific properties under the hotel group.
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Tags: Business , Carlson Rezidor , Henry Sy , hotels , Park Inn by Radisson , Real Estate , SM , SM Hotels and Conventions
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