GLOBAL HOSPITALITY GROUP Accor and Cebu-based Tytans Properties & Development, Inc. have forged a deal to open the largest Pullman property in Cebu.
The hotel, set to start construction in 2025 and open in 2028, will have 200 guest rooms and suites, the two companies announced on Feb. 26.
The 900-unit branded residences, meanwhile, will consist of three towers, one of which will have serviced apartments for extended stays.
Guests and residents in the mixed-use lifestyle real estate will have access to varied amenities and facilities, including restaurants, lounges, leisure zones, and corporate spaces.
The Pullman brand is one of the Accor Group’s more than 40 hotel brands. Pullman Mactan Cebu Hotel and Residences is set to become the world’s largest property under the brand.
“Why are we so confident in Cebu and the Mactan market? It’s very, very simple. The supply of new international quality, five-star hotels in Mactan are very limited. New supply coming to the market is none,” Andrew Langdon, chief development officer Asia of Accor, told BusinessWorld.
“Given how the airport is so close and given the number of flights…, it’s fueling increasing demand for guests,” he added.
This is Tytans Properties’ pilot project with an international operator, its chairman, Gerard Tan, said.
When Tambuli Seaside Resort and Spa, a Tytans project, opened in 2019, it had “very good reviews of what we have done,” he said in a separate interview.
“As the months went by, [however,] we realized the potential of the property and the development was not being fully developed because of the branding.”
“As a new player in the luxury department, partnering with Accor gives us more knowledge of how to compete in the international market,” he also said.
The Philippine branded residences market is poised for high growth, according to C9 Hotelworks, a hospitality consulting group.
The consulting group’s study showed a 105% increase in the pipeline, with an additional 5,599 units supplementing the current supply of 5,319 units. Metro Manila accounted for 43% of the total upcoming branded residences projects.
Urbanization and a post-pandemic shift in lifestyle changes have impacted this market maturation, it also said.
Branded residences have a premium of 30-40% on average, according to Bill Barnett, managing director of C9 Hotelworks.
This “makes sense because you’re having a premium product,” he said.
Paying for a brand may entail costs, he added, but “it’s an argument about sales pace… In projects with branded residences, with market absorption, we’re seeing a higher rate. People are selling it faster because there’s confidence in the brand.”— Patricia B. Mirasol
