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SM unit eyes hotel sites in Palawan, Bohol
By: Honey Madrilejos-Reyes | Business Mirror
23 June 2008 | 8:35 AM

The rising number of tourist arrivals in the country is encouraging the hotel division of SM Investments Corp. (SMIC) to look for sites in Palawan and Bohol for potential expansion.

In an interview, hotel investments group senior vice president Merril Yu said the Sy-led company is exploring options and is looking for properties that are suitable for the expansion of their hotel business.

“Tourism is the way to go. We are very excited about the growth of this sector,” he said.

SM Hotels has launched a P650-million expansion program for its Taal Vista Hotel in Tagaytay. It is also completing this year the P2.6-billion Sofitel Cebu Hotel to be operated by the Accor Group chain. Accor runs nearly 4,000 hotels worldwide. Its brands include Sofitel, Novotel and Grand Mercure.

Also in the pipeline is the two-hotel complex to be put up near the SM Mall of Asia. The P2.4-billion structure, to be built by SMIC subsidiary Hotel Specialists Inc., is designed to have one wing with 500 up-market guestrooms to be managed by Radisson, and another wing, The Regent, with 80 luxury suites. Both hotels are under the Carlson Hotels Asia-Pacific.

The Carlson Group is a leading consumer-services provider in the marketing, travel and hospitality industries. It owns the T.G.I. Friday’s and Regent Seven Seas Cruises brands, among others.

A resort hotel is, likewise, on the drawing board for Hamilo Coast’s Pico de Loro, envisioned to be an upscale hotel with 154 guest rooms. Negotiations are under way to appoint its hotel operator. Hamilo is a mixed-use project sprawling over a 5,700-hectare property in Batangas.

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I am just curious how the homegrown retail stalwarts, the BQ and Alturas Group, will react to this. With one foot in a Bohol-based hotel red carpet, it is just so easy for SM, the country's most formidable retail giant, to make a full entry into our island's supposedly well-guarded retail market.

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I think Tagbilaran has to put in place its drainage, sewage and liquid waste purification system , as well as other basic public services, before it accommodates another huge commercial establishment. Kay karon gani sige lang silag fingerpointing sa waste disposal problem sa BQ, Metrocenter ug ICM that reportedly makes a free ride on the city drainage system.

I believe a free market is good for the consumers in general, and shopping complements the tourism industry. But the paramount consideration for any major development is the effect on the environment, since Bohol's come-on is eco-tourism. We should manage our progress in accordance with our capacity to protect our environment.

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