WPI sets renovation of all Waterfront hotels

By Katlene O. Cacho

Monday, August 20, 2012
OFFICIALS of publicly-listed Waterfront Philippines Inc. (WPI) said on Saturday they will renovate all of their hotels to keep up with competition.
Officials said they are constantly looking for possible hotel acquisitions to boost their business portfolio.

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In a media briefing, WPI chairman Renato Magadia said they will be acquiring a 500-room hotel in Manila to add to its Manila Pavilion and G-Hotel.
Magadia declined to provide any other detail regarding the planned acquisition but
said talks are now being formalized.
If the planned acquisition of the “old hotel” will push through, it will be WPI’s sixth hotel in its chain.
WPI is also the hotel operator of Waterfront Cebu Hotel and Casino (WCHC), Waterfront Airport Hotel and Casino Mactan (WAHC) and Waterfront Insular Hotel Davao.
Improvements
WPI president Kenneth Gatchalian said that aside from improving WCHC, the company will also invest to improve the rooms and amenities of WAHC next year.
The company has yet to disclose the planned renovation cost as they are currently working on the renovation of Manila Pavillion.
“The hotel business is competitive and given that we are a Filipino hotel-chain, it is difficult for us to compete when it comes to building new hotels. So the focus of the company now is on improving our hotel chains,” Magadia said at the sidelines of WPI’s annual stockholder’s meeting on Saturday.
Speaking before stockholders, Gatchalian described 2011 as another “trying year” for the tourism and travel industry, citing events like the tsunami and nuclear disaster in Japan, conflicts and political upheavals in the Arab region and the economic crisis in Europe.
He said the hospitality industry posted a flat growth due to China’s travel ban to the Philippines over the Quirino Grandstand hostage crisis in 2010 and the recent political tension between the governments of China and the Philippine. He said these are on top of the lack of investment in transport and tourism infrastructure and lagging investment in information and communications technology.
WPI’s main markets are China, Hong Kong and Taiwan.
Although, the hotels were adversely affected by trip cancellations from these markets, Gatchalian said WPI managed to achieve its targets through product developments.
Revenues
WPI hotel operations generated P2 billion last year. Rooms contributed 30 percent or P607.41 million, while food and beverage put in a share of 29 percent or P584.01 million.
Officials said WPI will continue to increase its marketing efforts in both online and offline channels.
Magadia said they will continue forming partnerships with numerous travel agencies and partners this year as well as employ innovations like QR codes for promotion collaterals, creation of official e-newsletter and enhancement of web services. WPI also upgraded their Property Management Systems to upgrade efficiency, and to ensure steady operations.
Gatchalian also said they will tap non-traditional markets to ensure a steady flow of hotel guests.

Published in the Sun.Star Cebu newspaper on August 21, 2012.

Megaworld launches residence project

By Katlene O. Cacho
Monday, August 20, 2012
PROPERTY developer Megaworld Corp. launched its four-tower One Pacific Residence in Cebu last Thursday.
One Pacific Residence is the company’s latest addition to the 16-hectare integrated township development The Mactan Newton in Lapu-Lapu City.

Megaworld Corp. set aside P10 billion for the five-year development of the new township project.
“We are bringing the luxury and lifestyle convenience to new heights. One Pacific Residence will showcase the best of Newtown living,” Megaworld Corp. senior vice-president for sales and marketing Noli Hernandez said during the launch at the Radisson Blu Hotel Cebu.
One Pacific Residence will have three residential towers with a total of 540 units.
The fourth tower is an office building for potential business process outsourcing (BPO) locators.
Hernandez said two residential towers were already sold out to the Japanese market.
The remaining residential tower is being marketed to local buyers.

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Options
The condo units are priced from P4.1 million up to P5.8 million. Each unit has built-in closets, kitchen cabinet and a stainless steel sink. It also has an exhaust duct systems, a multi-power point heater, individual mail boxes and split-type air conditioning.
Buyers can choose to have their units with hot and cold shower, cable TV and telephone connection already installed. Residents of One Pacific Residence will have the view of the Magellan Bay to its north and the Hilutungan Channel to the south.
The company said they expect to complete One Pacific Residence in 2016.
Hernandez said last week’s launching of One Pacific Residence also marked the official entry of Megaworld Corp. in Cebu.
The Mactan Newtown is patterned after Megaworld’s Eastwood City development in Libis, Quezon City, which has integrated live, work and play components.
Megaworld Corp. is owned by tycoon Andrew Tan.
The Mactan Newtown is said to be the biggest project so far of Megaworld in southern Philippines. It will have residential condominiums, BPO offices, retail and entertainment strips, a wellness facility and an upscale boutique hotel.
It was recently declared a special economic zone.
In its disclosure to the Philippine Stock Exchange, Megaworld said it grew its first semester core net profit by 15 percent to P3.69 billion. The company said the growth is due to the continued strength of its residential real estate sales and BPO office rental portfolios.
Consolidated revenues amounted to P15.43 billion, up by 12 percent from P13.81 billion the year before. Rental income from Megaworld’s BPO office and retail developments grew to P2.26 billion, which is 39 percent higher from the P1.63 billion recorded the year before.
Megaworld currently has 10 ongoing “mega-projects” within Metro Manila, Iloilo and Cebu. By the end of 2012, the company expects to have around 500,000 square meters of office space in its portfolio. For Inquiry, call us at (63 32) 3181589 | +639173236123

Published in the Sun.Star Cebu newspaper on August 21, 2012.

CONTEMPO PROJECT - AFFORDABLE AT MANDAUE CITYIVING

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PROJECTS

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CONTEMPO is going into high gear immediately after the launch of the  company in preparation for the development of its flagship project.

Having acquired a one-hectare prime land within the heart of Metro Cebu, Contempo gathered  a team comprised of a marketing consultant, architect, engineers and Contempo executives to hone a conceptual design slated to introduce a novel idea to the Cebu market.

Taking a consultative approach to the design process, the company started with several groups of prospective real estate buyers to evaluate their wants and needs.  What emerged is a focus on the key elements of “community” that are perceived to be lacking in most projects.

The idea of “good neighbors” and their impact on the quality of life in residential developments became the defining core that Contempo opted to capitalize on.    Insights provided by those consulted in the market study revealed aspirations for values of discipline, cooperation and the spirit of bayanihan so familiar to the Filipino culture.  These and a professionally run property management with  customer service from the heart shall be the framework of an exciting community innovation that shall set Contempo communities apart from other projects.

Soon to be launched: a refreshing one hectare green sanctuary in the midst of the urban sprawl just a few meters from H. Cortes St. Within a quick drive are four malls, schools, churches, offices and entertainment hubs. For Inquiry, call us at (032) 3181589 | 09173236123.

Developer Aims Middle-Income Market

Cebu, Philippines – Joining Cebu’s list of residential developers is the firm Contempo Property Holdings Inc., a firm that wishes to focus on affordable residential projects.

Contempo’s president and chief executive officer Beverly Dayanan stated in a press conference that the firm will address the market gap within the residential industry, most specifically for the middle- income market.
 

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Contempo, with a capital stock of P100 million was registered with the Securities and Exchange Commission last February. Dayanan, also president of ProHomes Development Inc., trusts that the company will be able to offer more than just the customary concept of residential establishments.

The company’s first project is situated on a one-hectare property along H. Cortes Street in the city of Mandaue. It will have three residential condominium towers with approximately 800 units. Its completion is said to be within the next four to five years.

“We will be spending close to P1 billion for the development of this complex,” she said.

Dayanan informed that the condo unit price ranges from P1.5 million to P1.8 million. She declined to give further information on the said project but said that about 50 percent of the development has been allotted to amenities.

Contempo’s marketing and sales consultant Tetta Baad said that the projects will be market-driven, having conducted a study to point out the features that the Cebuano market prefers.

She also added that among the key factors the middle-income earners look for in a residential establishment are accessibility to major and minor public transportations, accessibility to other major establishments like schools and malls and affordability.

Furthermore, she explained that although most of the locations of residential buildings are within good locations, the middle-income sector also pinpoints the preference of affordable monthly amortization and low down payment amount.

The company is set to launch the entire project this year, inclusive of their first condominium tower.

According to the National Economic Development Authority 7, construction and real estate will continue to grow due to the strong demand of BPOs, the tourism industry and the increase of overseas remittances.

It further added that residential units continue to flourish also because of the promotion of the city as a second home. For Inquiry, please contact us at (032) 3181589 | 09173236123.

SOURCE: SUNSTAR CEBU

SOON TO RISE - AFFORDABLE CONDOMINIUM AT MANDAUE AREA

CONTEMPO is going into high gear immediately after the launch of the company in preparation for the development of its flagship project.

Having acquired a one-hectare prime land within the heart of Metro Cebu, Contempo gathered a team comprised of a marketing consultant, architect, engineers and Contempo executives to hone a conceptual design slated to introduce a novel idea to the Cebu market.

ENJOY GOOD LIFE + INVESTMENT, CLICK HERE

Taking a consultative approach to the design process, the company started with several groups of prospective real estate buyers to evaluate their wants and needs. What emerged is a focus on the key elements of “community” that are perceived to be lacking in most projects.

The idea of “good neighbors” and their impact on the quality of life in residential developments became the defining core that Contempo opted to capitalize on. Insights provided by those consulted in the market study revealed aspirations for values of discipline, cooperation and the spirit of bayanihan so familiar to the Filipino culture. These and a professionally run property management with customer service from the heart shall be the framework of an exciting community innovation that shall set Contempo communities apart from other projects.

Soon to be launched: a refreshing one hectare green sanctuary in the midst of the urban sprawl just a few meters from H. Cortes St. Within a quick drive are four malls, schools, churches, offices and entertainment hubs.For Inquiry, please contact us at (032) 3181589 | 09173236123.

Source: https://www.facebook.com/ContempoPropertyHoldingsInc