SM hospitality arm to build 14 hotels for tourists, OFWs
By Lovely Nica P. Lee
19 Nov 2007
Source: BusinessWorld

THE HOTEL Investments Group of listed holding firm SM Investments Corp. is planning to put up a hotel chain nationwide in order to tap the growing consumers in the domestic tourism market.

To be called Casa SM, the hotel will be built in 14 sites that the company has yet to be determined by the company. The hotels, which will be marketed to local tourists and overseas Filipino workers (OFWs) visiting the country, will feature a minimum of 50 rooms at an average size of 24 square meters each and will have a rate of P2,000 per night.

"We’re fine-tuning the 14 sites. Once we select the sites, we’ll finalize the ," said Merril F. Yu, senior vice-president of the Hotel Investments Group. "There’s a growing demand for hotel accommodations from multiple users in second- and third-tier locations and we’re going in those areas," he added. Mr. Yu also said that the strategy was to open one Casa SM in places where the SM malls exist. There are 30 SM malls nationwide.

"As the tourist number increases, we want to develop hotels that add value to SM products," he said. "We’d like to capture synergies of an existing mall structure and build a hotel [near the mall]," he added. Mr. Yu said the group aims to [B]open two beta sites by the end of 2009, which would serve as the springboard to the balance of the 12 other units they would be coming up.

He also noted the possibility of partnering with an international management operator for the hotels depending on how many rooms a site requires. The Hotel Investment Group is now busy completing the expansion of Taal Vista Hotel from 128 rooms to 262 rooms, Mr. Yu added.

He said the group has also jump-started the renovation and conversion of the 400-room Cebu hotel beside SM City Cebu into a five-star operation by Sofitel of the Accor Group, a European hotel management firm.

The P2.8-billion five-star hotel was designed by United States-based master planner and architect Wimberly Allison Tong and Goo. Preparations are also being made for a Radisson Hotel in the Mall of Asia Complex which will have about 400 rooms, Mr. Yu said.

The hotel will be developed and managed by Carlson Hotels Asia Pacific, and aims to be the country’s premier business and tourism district by the Manila Bay. The Hotel Investment Group is positioned as a progressive development group that will optimize multiple investment vehicles in travel and tourism, and consequently, add value to the existing businesses of SM Investments.

The group contributes 8% in the total revenues of SM Investments Corp.’s property development business. SM Investments is the Sy family’s publicly listed holding firm, which handles its real estate, retail merchandising, shopping malls, and banking businesses.

---

SMIC to build hotel chain near SM malls
By Honey Madrilejos-Reyes
19 Nov 2007
Source: Business Mirror

SM Investments Corp. (SMIC), the publicly-traded holding firm led by shopping-mall mogul Henry Sy, will put up a hotel chain for businessmen to bolster its position in the country’s growing tourism industry.

In an interview, senior vice president for hotel investments group Merril F. Yu said the plan is to build the hotels near the SM shopping malls to make them more enticing to clients.

“Our plan is to test the market first by starting with two hotels. Our target is to put up a total of 14, which we hope to complete in the next two years,” he said. They will consist of 50 rooms, with an average rate of P2,000 per day. Yu said that SM Investments will likely tap an international operator to manage the hotels.

Earlier, SMIC tapped European hotel operator Accor to run its P2.8-billion hotel in Mactan, Cebu. The five-star hotel has 400 rooms and forms part of the Sofitel brand of international hotels.

It is expected to open in December 2008. Other SM hotel projects in the pipeline are two hotels in SM BayCity to include the recently announced Microtel project; a hotel in Hamilo Coast; and boutique hotels in selected sites in Luzon and the Visayas. Next year, SMIC is spending P15.6 billion to fund its property projects, including hotels.

---

SM mulls boutique hotels near malls
19 Nov 2007
Source: Malaya

SM Investment Corp. plans to build a string of boutique hotels of 50 rooms each near the SM malls nationwide. For starters, the conglomerate is assessing possible sites in 14 malls.

SM is currently building a series of residential condominium buildings adjacent to its malls. Merril F. Yu, SM Investments senior vice president for hotel investments group, said the the company will break ground in two "beta sites" next year.

The two "beta sites" would be operational by end 2009, according to Yu. "This will allow to capture the synergy of two existing structures and add value to them", said Yu. Yun said SM will invest P1.7 million per room for its hotel business.

SM Investments would tap outside expertise in running the hotels, according to Yu. SM Investments earlier also used its mall as a pivot factor in developing its condominium development in two projects in Manila.

"SM Mezza" is a four tower residential project SM Developments Corp., SM Investment’s unit, is developing adjacent to the SM Sta. Mesa mall. The "Grass Residences" meanwhile is a similar three-tower development that will rise beside the SM North Edsa in Quezon City.

SM Investments meanwhile intends to spend roughly P26 billion for capital expenditures by 2008, with focus on property, tourism and mall development. SM Investments executive vice president Jose Sio said roughly P15.6 billion would be spent for property development.

About P6 billion will be set aside for mall expansion and SM’s retail and banking businesses will be budgeted P2 billion and P2.3 billion respectively. Sio said about P7 billion of the intended capex "may be funded by borrowings" with the balance to come from cash from operations.

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i think this is a very good move by SM.. kaya lang sana they priced it below 2,000 per room, para mas mag click.. dapat nasa 1T to 1.5T range lang.. at bawal dapat short time! hehehe

^^ Feeling ko yun nga ang iniiwasan, kaya they placed it on the 2K range.

Anyone has ideas on the first two location?

My SSC instinct tells me SM North EDSA is one. Instinct also tells me it may be built behind Grass Res., yung gray box sa likod ng center tower sa rendering. I hope I'm right.

http://www.smdevelopment.com/uploads/images/Gallery-124_Image-124_grasssiteperspective.JPG

nope, that's parking buildings eh. baka dun sa harap ng grass since meron pang for future development dun.

Tama si Dvorak. Dapat nasa range lang ng P1000 to P1500 para mag click. Dahil marami akong kilala dito na mga taga probinsya na sa Mabuhay Hotel tumutuloy pag pumupunta ng Manila.

not really a new idea but it will nice to see how sm one of the country's biggest companies implements this.

Good idea for a budget hotel but the name Casa SM sounds like.... errr .... a cheap motel to me. See the thread title and you know what I mean (with the shortcut 'hot' for hotel in the title pa). Better branding sana. Or just make sure minimum is 24 hrs. :D

I don't know, but it sounds so classy to me. Like it's some sosyal na hotel. Tapos Spanish pa yung name, not bad at all.

Kapag "SM" ang nakikita ko..naaalala ko pa rin ang "ShoeMart"...hehehe :)

wow.. great news.. may bago nanaman ako mapupuntahang motel.. haha.. joke... pero ang mura ha... nice...

SM Investments’ hotel group to build two units within 2008
http://www.bworldonline.com/BW030308/content.php?id=042

THE HOTEL Investments Group of SM Investments Corp. is ready to build its first two homegrown hotels within the year.

"We’re very close to selecting the first two sites. They will break ground probably in the middle of this year and then construction and completion time will be about two years," said Merril F. Yu, senior vice-president of the Hotel Investments Group.

In an interview, Mr. Yu said the hotels, to be named SM Inns, will be built according to the property size with a cost of P1.4 million per room.

"There are two types depending on the site potential. There will be a larger development of about 150 rooms and a smaller one probably about 50 rooms," he said.

Mr. Yu stopped short of identifying the hotels’ location, only that these will be adjacent or near an SM mall.

"We would like to increase synergy with the malls so we’re targeting [to locate them in] about half of the malls. Next year, we’re looking [to do] possibly five," he said.

SM Prime Holdings, the mall operator subsidiary of SM Investments, ended 2007 with 30 malls. It will open this year three additional outlets in Pangasinan, Marikina and Bulacan.

With an initial overnight stay rate of P2,000, the hotels will be catering to local business travellers, domestic tourism and overseas workers who are on vacation, Mr. Yu said.

He added the group is considering local and foreign entities to manage the hotels.

"The inns would be handled by a management partner similar to what we have done in Cebu with our Sofitel which is under the Accor brand and in Mall of Asia, the Radisson Hotel with the Carlson brand. We’re looking for professional operators who have the expertise to make our investments one of the top hotels," Mr. Yu said.

Mr. Yu added that the group will be opening the Cebu Sofitel by the end of the year and break ground the Radisson Hotel in Mall of Asia.

The Hotel Investments Group serves as SM Investments’ development group aimed at the travel and tourism market.

It contributes 8% in the total revenues of SM Investments, the listed holding firm of the Sy family, which has businesses in the real estate, retail merchandising, shopping malls and banking. — Lovely Nica P. Lee
_------------
From the article I think its now called SM Inns and to will be launch this year, much earlier than 2009; if this is the same project.

I don't know, but it sounds so classy to me. Like it's some sosyal na hotel. Tapos Spanish pa yung name, not bad at all.

Yeah, ala armani (www.armanicasa.com).

^^gawin na lang Casa Esse Emme. kaso pinalitan na e. SM Inns na.

Can't they put away the SM Logo? It sucks.

From the hotel thread.

SM diversifies, to build 14 hotels in 5 years

SM Investments Corp. will this year start building two of the 14 low-rise hotels that it wants to build within five years through its hotel arm.

“The company will soon conduct ground breaking for the two hotels,” Merril Yu, senior vice president of SMIC Investment Group, said after the company’s stockholders’ meeting Friday.

He refused to say where the company would build the hotels, apart from saying the 14 would rise up within the SM group’s 30 shopping malls.

One of the two hotels to be built starting this year will have 50 rooms, and the other 150. Their construction cost is estimated at P280 million at P1.4 million per room.

The size of the rooms in the planned 14 low-rise hotels will be 24 square meters, and the developer plans to charge just P2,000 a night to make them affordable to locals.

Earlier, Yu said the company’s low-rise hotels would compete with Days Hotels and other boutique hotels here. Days Hotels operates properties in Tagaytay, Subic Bay, Batangas, Bais, Mactan and Iloilo. It plans to build more hotels in Makati, Baguio City, Boracay, Bohol, Davao, General Santos City, Camiguin and Palawan.

The low-rise hotels apart, SMIC Hotel Investment Group is also building a P2.8-billion five-star hotel in Mactan. It recently signed a contract with European firm Accor to operate a 400-room Sofitel hotel here.

The company is also building the 400-room Radisson Hotel within the Mall of Asia Complex and plans to put up a P450-million hotel in Batangas.

The company is now expanding its Vista Hotel in Tagaytay City to 260 rooms from 128 at a cost of P650 million. That expansion will also add a 1,000-seat ballroom and six meeting rooms to the property. Jenniffer B. Austria, Manila Standard 28/04/2008

...In an interview, Mr. Yu said the hotels, to be named SM Inns...

The thread title should now be "SM Inns [hot] - Metro Manila" since we don't know the exact locations yet and perhaps this thread should be temporarily placed in the subforum "Manila and the Rest of the Metro". Otherwise, this thread will be floating around in limbo. :)

They should rename it to "Bed and Dine SM" or BDSM.

^^ Feeling ko yun nga ang iniiwasan, kaya they placed it on the 2K range.

Anyone has ideas on the first two location?

My SSC instinct tells me SM North EDSA is one. Instinct also tells me it may be built behind Grass Res., yung gray box sa likod ng center tower sa rendering. I hope I'm right.

http://www.smdevelopment.com/uploads/images/Gallery-124_Image-124_grasssiteperspective.JPG

ang pangit ng logo..

sana palitan ang font into Times New Roman tapos Silver ang color.. naks! bagay na!

Kapag "SM" ang nakikita ko..naaalala ko pa rin ang "ShoeMart"...hehehe :)

SM? Hmmm. Wait until foreigners get ahold of that. Magiging Casa S&M. :nuts: So it'll have a reputation of being a chain of Sado-Masochism parlors. :lol:

SM Hostel

BDSM and Casa S&M. :D

How kinky. :D

This would be a hit ! imagine, dinner, a movie with the GFto get her all excited, then a short walk to the casa for some hankypanky :)

SMIC looks for sites other than Hamilo Coast project to develop
By James A. Loyola, 25 Jun 2008
Source: Manila Bulletin

Hamilo Coast, Batangas-SM Investment Corporation's hotel investments division, through subsidiary Hotel Specialists Inc., is looking at options for beach resort projects in popular tourist destinations such as Palawan and Bohol in addition to its similar development in Pico de Loro, Hamilo Coast, Batangas.

In an interview with reporters, SMIC senior vice president in charge of SM Hotels Merril Yu said they are currently reviewing demographics to see if such projects will make sense for the company to develop.

While SM's hotel business is normally aimed at areas where there are existing SM malls or other projects within the group, Yu said the search for beach resort sites is being done in areas where the SM group has yet to acquire properties.

He said this part of the SM group's thrust to develop projects that will tap into the country's growing tourism industry in its optimism that the industry will be the source of strong growth for the group.

Yu said they are also considering island-resort projects but the focus will mainly be on bigger hotel projects that will provide great quality combined with good value just like all SM businesses.

SM Hotels expects to name an operator for its planned P420 million hotel project in Hami1o Coast's Pico de Loro, which is envisioned to be an upscale hote1 with 154 guest rooms.

SMIC is also constructing two beach clubs in Pico de Loro and is currently marketing 4,000 membership shares consisting of 800 corporate membership shares and 3,200 individual shares. Current price for a corporate share is P850,000 while individual shares go for P460,000 each.

SM Hotels is aggressively spearheading the group's entry into the tourism business by earmarking P6.35 billion for the construction of both luxury and boutique hotels.

Yu said that, from having just 128 rooms in Taal Vista Hotel, SM's hotels will have 660 rooms under its portfolio by the end of 2008 and 1,394 guest rooms by the first half of 2010.

Hotel Specialists is spending some P280 million to build two "beta" boutique hotels to test the market for the Small hotels they plan to put up near SM’s 30 malls nationwide.

Yu said they will start construction this year but declined to disclose the location of the two test hotels but said these will be beside SM Malls. They are now looking for foreign hotel operators to manage this new boutique chain.

However, he revealed that these will test out the two models they have which is for a 150-room hotel and a smaller one with just 50 rooms adding that cost of construction amounts to about P1.4 million per room or P210 million and P70 million, respectively.

The firm is also in the middle of the P650-million expansion of Taal Vista which will add another wing to the hotel with 132 rooms and a new ballroom that can seat up to 1,000 guests.

SM also invested P2.6 billion on the upscale Sofitel Cebu hotel which will open at the end of this year through a partnership With Accor Group which operates over 3,800 hotels worldwide.

Good idea for a budget hotel but the name Casa SM sounds like.... errr .... a cheap motel to me. See the thread title and you know what I mean (with the shortcut 'hot' for hotel in the title pa). Better branding sana. Or just make sure minimum is 24 hrs. :D

Yeah 'Casa' and S& M earned sleazy connotations.

Is that what they are aiming for? Like a motel?

I believe this is a working name, they've said they were looking for hotel management partners.

SM Casa Hotel
Reclamation Area, Bacolod City

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http://farm4.static.flickr.com/3536/3220171702_86f024c558.jpg?v=0

from http://www.lorcalma.com/index.htm (courtesy of SUV111)

SM Casa Hotel will be located near SM City Bacolod, fronting the sea....

http://farm3.static.flickr.com/2066/1819673763_4af1fe5073.jpg

nice one bacolod! :cheers:

^^
thanks!:)

Future Site of SM Hotel

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http://farm4.static.flickr.com/3453/3221950281_87a9d43333.jpg?v=0

the proposed location of the sm hotel

^^ nice...ang lapad...umpisa pa lang yan...marami pang SM hotels na ipapatayo across the country...

This will be the tallest in Bacolod.

nice...is this the first SM hotel in the country?
would this be a de luxe hotel?

^^
as far as i know, it will be the first.:)

This will be the tallest in Bacolod.
^^
the 12-storey Sanparq Tower will be the tallest...
http://i523.photobucket.com/albums/w357/fly2bacolod/thebig3_bacolod.jpg

SM Casa Hotel ★ Azotea Residences ★ Sanparq Tower

SM CASA Hotel.. sounds nice actually. However, it is still subject for change, depending on the partner they could get...

^^colloquially, casa in our dialect doesn't sound right...:lol:

nice...is this the first SM hotel in the country?
would this be a de luxe hotel?

^^
as far as i know, it will be the first.:)

Not really, the soon to be opened Radisson Hotel in Cebu is owned by SM.

bakit naman CASA ang pinangalan...although "Casa" means house in Spanish, in VisMin, it's a slang for "brothel"

^^
the 12-storey Sanparq Tower will be the tallest...
http://i523.photobucket.com/albums/w357/fly2bacolod/thebig3_bacolod.jpg

SM Casa Hotel ★ Azotea Residences ★ Sanparq Tower

^^ Aw...you're right. When will Sanparq start its construction? am really excited for this one.

has this been given the green light? I'm wondering when they will start construction, Casa :lol: I bet a lot of locals will make a ton of jokes bout the name...:lol:

...i think @fly2bacolod is correct bai...he is talking about the CASA Hotel brand...but kung SM-owned hotel in general, of course, korek ka dyan!...hehhe!


Not really, the soon to be opened Radisson Hotel in Cebu is owned by SM.

http://farm4.static.flickr.com/3398/3240693040_6984906313_b.jpg

lapad sang space facing the bay area....hopefully manug start na ang construction sang convention center and hotel soon....

the vacant lot at the back of sm city facing the sea is where the proposed SM Hotel is to be constructed.

^^
nice shot mooncake!
SM Hotel Bacolod's location is very strategic.:okay:
SM Casa Hotel
Reclamation Area, Bacolod City

http://farm4.static.flickr.com/3446/3219312225_986e36c15b.jpg?v=0

http://farm4.static.flickr.com/3536/3220171702_86f024c558.jpg?v=0

from http://www.lorcalma.com/index.htm (courtesy of SUV111)

Negros Occidental is a tourist destination and Bacolod is a key city… there is a perceptible rapid increase in the number of visitors each year as we per seen from Bacolod Tourism office...the massive interaction of people demands a wide range of service...Maybe that is the reason why our facilities in hotels and resorts should be the 1st priority to develop and Bacolod today’s is having a rapid increase of hotel rooms sprouting all over the place. ..

according to the news visayandailystar.com and sunstar.com.ph SM group has a plan to put up a convention center adjacent to their SM mall,,,maybe/hopefully after the hotel to be completed

bakit naman CASA ang pinangalan...although "Casa" means house in Spanish, in VisMin, it's a slang for "brothel"


^^that is exactly on my mind @GearX... a good excuse for us i can say because its giving us a wholesome definition of what a casa is. hehehe. para pagtinanong ng asawa, san ka nanggaling? ba't ka ginabi? sa casa, hon...may meeting. :lol:

From the information inside SM Group.. All SM projects and proposed projects are currently on hold, including expansions. This is courtesy of the global crisis.. kaya the Hotel and Convention Complex in Bacolod may not be expected in the near future..

^^i hope it won't take long. but that's contrary to what i've read in yesterday's dailies. they even mull the expansion of sm rosales while i passed by las piÑas recently and the sm in pamplona is on-going.

^^i hope it won't take long. but that's contrary to what i've read in yesterday's dailies. they even mull the expansion of sm rosales while i passed by las piÑas recently and the sm in pamplona is on-going.

yeah and diba kakarelease lang nila ng news about a P2billion mall in taguig
SM is also hiring for SM lanang and SM Gensan

^^its actually a long list of projects lined-up in yesterday's papaers. those 2 just got my attention. i think of all companies, sm is the least affected.

^^that is exactly on my mind @GearX... a good excuse for us i can say because its giving us a wholesome definition of what a casa is. hehehe. para pagtinanong ng asawa, san ka nanggaling? ba't ka ginabi? sa casa, hon...may meeting. :lol:

parang ganito rin...

Mahal Saan Ka Galing Kagabi? --------> Nag Overtime :lol:

http://i2.photobucket.com/albums/y23/puretuts/DSC_0305.jpg

;33212026']yeah and diba kakarelease lang nila ng news about a P2billion mall in taguig
SM is also hiring for SM lanang and SM Gensan


SM Lanang and SM Gensan are not even final.. According to the insider inside the SM Administration.. all expansions and planned projects are currently on hold, even in manila. except of course with the on-going projects which budget has been allocated.

Even Savemore marts, which the SM management supposed to add at least 10 more in Visayas and Mindanao was put on hold. Of course, it doesnt mean it will ultimately scrap all planned projects, but the SM Management is following the Cash is King principle. While they are not so much affected so to speak and even if they are, they wont divulge it anyway, since there are alot in the business which is at stake. They could not afford to have a scenario of declining investor confidence in the first place. But of course, this is only temporary guys, in due time, these projects would push through eventually.

One thing, silently according to my source, the company is reportedly retrenching regular staffs. In Cebu alone, about 20 had been slowly retrenched.

^^ yikes!

SM Lanang and SM Gensan are not even final.. According to the insider inside the SM Administration.. all expansions and planned projects are currently on hold, even in manila. except of course with the on-going projects which budget has been allocated.

Even Savemore marts, which the SM management supposed to add at least 10 more in Visayas and Mindanao was put on hold. Of course, it doesnt mean it will ultimately scrap all planned projects, but the SM Management is following the Cash is King principle. While they are not so much affected so to speak and even if they are, they wont divulge it anyway, since there are alot in the business which is at stake. They could not afford to have a scenario of declining investor confidence in the first place. But of course, this is only temporary guys, in due time, these projects would push through eventually.

One thing, silently according to my source, the company is reportedly retrenching regular staffs. In Cebu alone, about 20 had been slowly retrenched.

But SM just recently has a press release about a Php2 billion project at The Fort. It means, they are still on the move amidst the crisis.

But SM just recently has a press release about a 2 billion project at The Fort.

baka super recent lang ang decision na yun (info ni Henz)

^^just yesterday actually

But SM just recently has a press release about a 2 billion project at The Fort.

That doesnt changed the fact bai.. since SM would still cater pa rin naman for projects they deemed strategic, its just that, they will be employing a very very prudent attitude at this time.

According to my friend who is a big shot in the company, it is not something you read in the news, but the Company is not spared from the effects of the crisis.

;33217246']baka super recent lang ang decision na yun (info ni Henz)

yes kagabi lang actually, i talked to him.. i was even stunned, cause we really thought the the Sy group is insulated from the crisis..

OK...Dami pa naman nang proposal nang SM.

^ Talagang affected sila kasi araw-araw akong nasa SM Cebu at napansin ko talaga na kung last year, napupuno ang mga fastfood outlets kapag lunch time eh ngayon, halos kalahati nalang sa mga tables ang occupied. Pati rin ang ilang non-food outlets, apektadong-apektado ang sales nila. Hindi sila makaquota.

Anyway, wala tayong dapat ikabahala sa SM. Remember that SM City North EDSA, their first ever supermall, was built at a time of crisis. SM is known for being a risk-taker. Ilang dekada na silang namamalakad ng negosyo so I don't think hindi nila makakayanan ang krisis na 'to kasi halos bawa't dekada eh may krisis naman. :)

sigh :(

29 April 2009
SMIC’s capital spending up 30% (http://businessmirror.com.ph/home/top-news/9614-smics-capital-spending-up-30.html)

THE Philippines’ largest conglomerate SM Investments Corp. (SMIC) continues to show resiliency against the global financial crisis as it announced a P31-billion capital spending this year, up 30 percent from the P24 billion it set aside in 2008.

At the sidelines of the company’s annual stockholders’ meeting on Wednesday, executive vice president and chief finance officer Jose T. Sio said the spending will be funded by internally generated cash and the proceeds from the planned sale of fixed- rate notes worth up to P10 billion.

Bulk of the group’s spending will go to its shopping-mall development arm SM Prime Holdings, P7.2 billion for property unit SM Development Corp., P5.1 billion for SM Hotel and Entertainment, P2.7 billion for office buildings and a ferry-terminal project, and P1.6 billion for the condominium development in Hamilo Coast. The balance will be allotted for the retail business.

“We will pursue our expansion plans for 2009 with greater focus on areas that we think can make us stronger when the crisis passes. These are the areas we know best and continue to provide long-term growth opportunities, namely, retail, mall operations, banking and property development,” said SMIC president Harley T. Sy.

While it admits the challenges posed by the current environment, the Henry Sy-led SMIC is still bullish of meeting a 12 percent to 14 percent growth in net profit this year.

Asked about the group’s plan to take advantage of the opportunities that may arise during a down cycle, Sy said, “Within the core businesses that we are in, I think there are still a lot of opportunities for us to take advantage of and grow. We would like stay where we are today, but we do look at other opportunities.”

On a per-segment basis, the group’s retail merchandising will open 14 SaveMore branches, two SM Supermarkets, four SM Hypermarkets and two SM Department Stores.

For the mall operations, SM Prime is set to open SM City Naga in Camarines Sur, SM City Rosario in Cavite, SM City Pamplona in Las Pinas and the Sky Garden at SM City North Edsa. By the end of 2009, it will have 36 malls in the Philippines and three malls in China with an estimated gross floor area of 4.9 million square meters.

The banking group, led by BDO Unibank Inc., will also continue to expand its coverage of the market and redeploy its remaining 37 branch licenses in high-growth areas bringing its network to over 700 operating branches nationwide.

The commercial properties segment, for its part, said 2009 will be a period of development and construction for SM Land Inc. in preparation for the possible market upturn by 2011. Same with SM Development Corp., which is launching four residential projects this year.

Meanwhile, the hotel and entertainment unit of the group is set to ground-break the Radisson Hotel at the Mall of Asia Complex. Other hotel developments will also be breaking ground for hotels in Pico de Loro and Bacolod sites.

^^finally, the loooooooong wait is over. ground breaking na guys!!! :banana::banana::banana:

29 April 2009
SMIC’s capital spending up 30% (http://businessmirror.com.ph/home/top-news/9614-smics-capital-spending-up-30.html)

THE Philippines’ largest conglomerate SM Investments Corp. (SMIC) continues to show resiliency against the global financial crisis as it announced a P31-billion capital spending this year, up 30 percent from the P24 billion it set aside in 2008.

At the sidelines of the company’s annual stockholders’ meeting on Wednesday, executive vice president and chief finance officer Jose T. Sio said the spending will be funded by internally generated cash and the proceeds from the planned sale of fixed- rate notes worth up to P10 billion.

Bulk of the group’s spending will go to its shopping-mall development arm SM Prime Holdings, P7.2 billion for property unit SM Development Corp., P5.1 billion for SM Hotel and Entertainment, P2.7 billion for office buildings and a ferry-terminal project, and P1.6 billion for the condominium development in Hamilo Coast. The balance will be allotted for the retail business.

“We will pursue our expansion plans for 2009 with greater focus on areas that we think can make us stronger when the crisis passes. These are the areas we know best and continue to provide long-term growth opportunities, namely, retail, mall operations, banking and property development,” said SMIC president Harley T. Sy.

While it admits the challenges posed by the current environment, the Henry Sy-led SMIC is still bullish of meeting a 12 percent to 14 percent growth in net profit this year.

Asked about the group’s plan to take advantage of the opportunities that may arise during a down cycle, Sy said, “Within the core businesses that we are in, I think there are still a lot of opportunities for us to take advantage of and grow. We would like stay where we are today, but we do look at other opportunities.”

On a per-segment basis, the group’s retail merchandising will open 14 SaveMore branches, two SM Supermarkets, four SM Hypermarkets and two SM Department Stores.

For the mall operations, SM Prime is set to open SM City Naga in Camarines Sur, SM City Rosario in Cavite, SM City Pamplona in Las Pinas and the Sky Garden at SM City North Edsa. By the end of 2009, it will have 36 malls in the Philippines and three malls in China with an estimated gross floor area of 4.9 million square meters.

The banking group, led by BDO Unibank Inc., will also continue to expand its coverage of the market and redeploy its remaining 37 branch licenses in high-growth areas bringing its network to over 700 operating branches nationwide.

The commercial properties segment, for its part, said 2009 will be a period of development and construction for SM Land Inc. in preparation for the possible market upturn by 2011. Same with SM Development Corp., which is launching four residential projects this year.

Meanwhile, the hotel and entertainment unit of the group is set to ground-break the Radisson Hotel at the Mall of Asia Complex. Other hotel developments will also be breaking ground for hotels in Pico de Loro and Bacolod sites.
^^
:banana::banana::banana:

i hope the groundbreaking will happen soon.:)

^^it is SOON...hehehe. here it is....

got this from trueblueilonggo guys in iloilo thread...so this year na man gid gali ang Bacolod Hotel :) the long wait is over :) haaaaaaaaaaay!!!!! what a relief :)

Cebu to corner a third of SM bond sale proceeds

CEBU CITY — Nearly a third of the P10-billion proceeds from the retail bond debut of Sy-controlled SM Investments Corp. will go to projects in Cebu.

Radisson Hotel Cebu, which will have a "soft" opening in October and fully operate in December, will get P2.5 billion while the planned SMX Convention Center Cebu will get P400 million to P500 million. A boutique hotel for travellers, one among 15 planned throughout the country, will also be put up near the SM mall here, said Jose T. Sio, SM Investments executive vice-president and chief financial officer.

Mr. Sio said a total of P2 billion would be allotted for the construction of these budget hotels over the next 10 years. The first will be built starting late this year in Bacolod, where he said "there’s a need for a good, small hotel for travellers." Aside from those in Cebu and Bacolod, budget hotels will also be built next to SM malls in Iloilo, Baguio and Naga, among others.

The convention center project near the existing SM City Cebu mall and Radisson Hotel Cebu is in the design stage. Construction is expected to start next year, with the center opening in 2011.

Other projects that will be financed by the bond issue are the Two E-Com Center, a sports arena, a Radisson Hotel as well as the expansion of the SMX Convention Center, all within the Mall of Asia complex in Pasay.

Eduardo V. Francisco, president of BDO Capital and Investments Corp., said demand for both the five-year and seven-year fixed-rate domestic retail bonds has been very strong.

"Demand is very strong so that it is no longer a question of whether we can raise P5 billion, but whether it’s going to be P9 billion or P10 billion," he said.

The Securities and Exchange Commission had approved a P5-billion fixed-rate bond issue, with an option to sell P5 billion more in case of oversubscription. Pricing will be set today and the bonds will be offered from June 8 to June 18, or eight business days.

This is the first retail bond issue of SM Investments, the listed holding company of the SM group with businesses in retail merchandising, mall operations, banking and finance, property development, and hotel and entertainment.

Meanwhile, SM Hotels expects a soft opening of the Radisson Hotel here in October. Radisson is the upscale full-service brand of Carlson Hotels Worldwide.

Marissa Fernan, SM vice-president for marketing in Visayas and Mindanao, said in a separate interview that key personnel led by general manager Grant J. Gaskin, a former managing director of the Radisson in Shanghai, have been appointed. Except for Mr. Gaskin, other key personnel are Filipinos.

Management is starting to interview local suppliers, she added. Homemade furniture will be used to furnish the hotel, providing Cebu’s beleaguered furniture industry a boost.

"Having Radisson here is a good thing for our furniture industry," Ms. Fernan said.

Radisson Cebu, which is positioned as an upscale business hotel, will have 400 rooms, a huge convention hall and the biggest Chinese restaurant in Cebu, Mr. Sio said. — Marites S. Villamor

^^
good news.:omg:

Got this from Cebu City Thread, posted by Jimbu.

SM Investments to build hotels near malls
By Rhia de Pablo
Updated June 05, 2009 12:00 AM


CEBU, Philippines – Looking at the huge potential of the tourism industry, SM Investments Corporation’s (SMIC) hotel and entertainment segment unveiled plans to roll out a mid-end hotel brand nationwide that will maximize their properties near its existing regional malls.

With an earmarked budget of P2 billion, SMIC plans to open 15 branches of Traveller’s Hotel nationwide, which will capitalize on the flourishing domestic and foreign tourism industry in the country, said SMIC executive vice president and chief financial officer Jose T. Sio in an interview.

Sio said the planned 15 branches will be put up by the company in a span of 10 years and among the initial locations being considered include Cebu, Iloilo, Bacolod, Davao, Baguio, Naga and other major cities with existing SM Mall operations.

He said that the first branch of Traveller's Hotel will be opened in Bacolod near the SM mall.The project is currently under its design stage and construction is targeted to kick off anytime this year.

“We want to maximize the usage of our properties near our SM Malls. We saw the potential of putting up quality hotels near our malls so we can provide a synergy of services to our guests because they can get all their needs in one location,” said Sio.

He said that the Traveller’s hotel will be a mid-level boutique hotel that will specifically cater to the growing domestic tourism in the country.

Sio said that the hotel will have around 50 to 100 rooms and the average accommodation rate per night will cost around 50 US dollars or around P2, 000 to P2, 500.

Meanwhile, in Cebu, Sio said they are looking for available space that is adequate enough for the hotel project as they are already anticipating the operations of their P2.5 billion Radisson Hotel project near SM City Cebu that is targeted to open this December.

He said that they are also allocating around P400 million for the construction of a smaller version of the SM X convention center here in Cebu near the mall. Construction is targeted to start during the latter part of 2010 and will be completed by 2011.

Sio said that SMIC is planning to acquire more land at proper reasonable prices for their banks, malls, residential and hotel operations and planned expansions.

Meanwhile, SMIC president Harley Sy said that their plans of acquiring lots in the South Road Properties (SRP) here in Cebu for their mall expansions will depend on present situations. He, however refused to give out more details about these plans.

“We believe in Cebu’s local economy. Your tourism sector has done a very good job and we can even say that now it’s even safer to be here than in Manila. We continually look out for areas in Cebu where we can expand our business and provide more service to the local public,” he said.

He said that SMIC is taking advantage of the slowdown in the property sector that resulted from the present global economic crunch as they are currently acquiring more properties near their existing mall operations, and areas near transport hubs and schools for their future expansion projects.

“We came up with our own business model to take advantage of what is selling at the moment considering the global crisis,” said Sy.

^^ It's not Casa anymore, it's TRAVELLER'S hotel.

nice,,,not only Eastpoint hotel had change their name to East View,,,but also Casa to Travellers

^^maybe they dropped the word to avoid the negative connotation associated with the word casa. hehe.

^^maybe they dropped the word to avoid the negative connotation associated with the word casa. hehe.

yeah that's good coz it's sound so horny and not corny

Its seems the SM Bacolod Travellers Hotel will be up first, then the Cebu Travellers Hotel. And the rest, such as in Iloilo, Baguio, Naga etc will follow..... Its a good thing SM is investing in the Tourism potentials of key growth areas this will undoubtedly stimulate not just the construction industry but as well as the local economies of newly emerging urbanized cities such as Bacolod....

^^that's right,and Bacolod is totally excited with this SM project.

Its seems the SM Bacolod Travellers Hotel will be up first, then the Cebu Travellers Hotel. And the rest, such as in Iloilo, Baguio, Naga etc will follow..... Its a good thing SM is investing in the Tourism potentials of key growth areas this will undoubtedly stimulate not just the construction industry but as well as the local economies of newly emerging urbanized cities such as Bacolod....

with the construction boom here in Bacolod, especially in the hotel industry...i guess SM was the one got stimulated....hehehehehehe!!! Bacolod opened 4 new hotels last year and were awaiting for another 2 this year. the demand is undeniably increasing that's probably the reason why SM decided to put its first Hotel in Bacolod....

^^well said migs. :okay:

with the construction boom here in Bacolod, especially in the hotel industry...i guess SM was the one got stimulated....hehehehehehe!!! Bacolod opened 4 new hotels last year and were awaiting for another 2 this year. the demand is undeniably increasing that's probably the reason why SM decided to put its first Hotel in Bacolod....

you've got a point.. but knowing the trust and confidence of the SM.. it will surely deliver better than the rest..

by the way, i just want to ask you guys, is it true that the Ocana Hotel owned by the NS Ocana group is up for sale since it is going bankrupt?

^^:uh: better ask @postergirl about it...she's in the best position to answer this allegation. well, recently they employed a us-trained hotel manager. so i guess that's renewed optimism on their part and in preparation for a stiffer competition in the hotel business in bacolod.

you've got a point.. but knowing the trust and confidence of the SM.. it will surely deliver better than the rest..

by the way, i just want to ask you guys, is it true that the Ocana Hotel owned by the NS Ocana group is up for sale since it is going bankrupt?

I will let postergirl answer the question....it shouldnt come from my mouth or anybody else's mouth since we are not directly related to the Ocana's :) Postergirl is the only person who can say something about this issue

aok.. i heard kasi from a friend who works in NS Ocana here in Cebu.. I dont believe it thats why i asked for your confirmation.

aok.. i heard kasi from a friend who works in NS Ocana here in Cebu.. I dont believe it thats why i asked for your confirmation.

dont worry, we will try to ask postergirl to answer your query... :)

you've got a point.. but knowing the trust and confidence of the SM.. it will surely deliver better than the rest..

by the way, i just want to ask you guys, is it true that the Ocana Hotel owned by the NS Ocana group is up for sale since it is going bankrupt?

i know they will....and i know they will give a good competition for other hotels once started :) I heard from a grapevine that they are going to construct a a 150 rooms hotel here in the city...this makes us more excited :) :cheers::cheers::cheers::cheers:

^^150 rooms? that's huge....:banana::banana::banana:

SM Traveller's Hotel - Bacolod
Reclamation Area, Bacolod City

http://farm4.static.flickr.com/3446/3219312225_986e36c15b.jpg?v=0

http://farm4.static.flickr.com/3536/3220171702_86f024c558.jpg?v=0
^^
is this the final design?:nuts:

we have to wait...since they said they are finalizing the design of the building...maybe there will be some revisions but i hope it will just be a minor thing :)

Nice if they will still follow the design. It looks massive. But knowing SM, it follows a generic design like their boxy malls and condominiums. We just dont know how would their Travellers Hotel looks like, but lets just hope when they will alter the current design, it will be probably better if not the best.

Nice if they will still follow the design. It looks massive. But knowing SM, it follows a generic design like their boxy malls and condominiums. We just dont know how would their Travellers Hotel looks like, but lets just hope when they will alter the current design, it will be probably better if not the best.

I agree with you henz, especially here in Bacolod, most hotels got a very good architectural designs, i dont think SM will allow the design of their hotel to be mediocre.

we have to wait...since they said they are finalizing the design of the building...maybe there will be some revisions but i hope it will just be a minor thing :)
^^
exciting! i really can't wait for the start of construction.:banana:

SM Casa Hotel will be located near SM City Bacolod, fronting the sea....

http://farm3.static.flickr.com/2066/1819673763_4af1fe5073.jpg

http://experiencenegros.com/wp-content/uploads/2009/01/sm-bacolod-hotel-proposed-site.jpg

(photo credit to experiencenegros.com)

good site..

if sm hotel should rise on the lot you are referring too, the port near it should be converted into a boulevard.:spam1:

if sm hotel should rise on the lot you are referring too, the port near it should be converted into a boulevard.:spam1:

i smash the spam grrh,,,it needs to take a double action now- the proposed coastal road where are you now,,,it's your turn

SMIC's first half income jumps 14% to P7.4 billion
By Zinnia B. Dela Peña (The Philippine Star) Updated August 14, 2009 12:00 AM

MANILA, Philippines - SM Investments Corp. (SMIC), the listed investment holding firm of the family of retail tycoon Henry Sy, reported a 15.5 percent jump in net income during the second quarter on robust retail and property sales amid an economic downturn.

In a financial report filed with securities regulators, SMIC said its net earnings during the period amounted to P3.2 billion, bringing its first half net profit to P7.4 billion or an increase of 14 percent from the previous level of P6.5 billion.

Consolidated revenues reached P39.38 billion in the second quarter, up 15.38 percent from P34.13 billion, mainly coming from the retail business due to an improved consumer spending. In the first half, revenues rose 13 percent to P74.5 billion.

Given its strong financial results for the first half of the year, SMIC chief financial officer Jose Sio said the company is confident it would exceed its 12 percent income growth target for the year. “We are already tracking 14 percent growth. We will definitely exceed our income target of 12 percent,” he said.

SMIC president Harley Sy said the group’s first half results “stayed on track as all our major subsidiaries performed well amid a generally slower business environment due to the global financial crisis.”

“Our long-term view of the economy keeps us focused on our strategic expansion program in all our lines of business, complemented by efforts to better understand our markets, and ensuring cost efficiencies.”

The financial services group likewise boosted SMIC’s revenues as it benefited from the integration of past acquisitions and increased market penetration.

According to SMIC, retail merchandising accounted for bulk of the group’s net income profile, accounting for 39 percent or P2.4 billion, followed by shopping malls and banking with 27 percent and 22 percent, respectively. The contribution of the real estate business improved 12 percent.

Retail merchandising’s net income grew 42 percent on the back of a seven percent rise in sales revenues to P56.4 billion. The significant increase was attributed to the continued improvement in cost efficiency due to economies of scale, operational movements and further expansion through additional stores, particularly of smaller supermarket format. Save More stores opened a total of five stores last year and six stores since January this year.

For the remainder of the year, SMIC is spending P16 billion for its capital expenditures which include the opening of 12 retail stores (one department store, one supermarket, six Save More and four hypermarkets), six new residential projects and construction of a Raddison Hotel and a sports arena at the Mall of Asia along Manila Bay. Plans also include the establishment of its first budget hotel in Bacolod. Estimated to cost P400 million excluding the land, the 150-room boutique hotel is expected to be operational in 2011.

Sio said the sports arena, which is expected to meet world-class standards, is slated to open in 2012.

SMIC’s retail group opened 11 stores in the first half, bringing the total number of outlets to 106, comprising 35 department stores, 26 supermarkets, 18 Save More branches, 15 hypermarkets and 12 Makro outlets.

Mall operator SM Prime Holdings Inc.reported an 8 percent growth in consolidated net profit to P3.4 billion. Revenues went up 15 percent to P9.6 billion due to the opening of SM City Marikina, SM Rosales and SM Baliwag in 2008 and SM Naga in May 2009.

The new malls and the expansion of existing malls in 2008 and 2009 added 477,000 square meters to the company’s total gross floor area and presently register an average occupancy rate of 96 percent.

Banking units Banco De Oro, on the other hand, posted a net income of P2.1 billion while China Bank earned P2.02 billion in the first half of the year.

Revenues from real estate operations grew 37 percent to P4.4 billion while net income surged 80 percent to P1.2 billion. Contributions largely came from SM’s residential arm, SM Development Corp., followed by the leasing activities of the commercial properties group, and the resort projects of Costa del Hamilo, the corporate vehicle for the development of the Pico de Loro Cove project in Nasugbu, Batangas.

As of end-June this year, the completion rate of Hamilo’s two- condominium projects under construction in Pico de Loro were 79 percent for Jacana and 45 percent for Myna.

http://www.philstar.com/Article.aspx?articleId=495671&publicationSubCategoryId=66

^^ diba 3rd to 4th quarter of this year mag start yan?

^^yup...from the name SM Casa Hotel had rename to SM Traveller's Hotel,,,hope the rendering had changed also into a better (i mean a bigger & aesthetic) than the 1st one,,,baka yan ang dahilan kung bakit delayed ang construction

^^ I like name Traveller's Hotel compare to Casa Hotel, for some reason it doesnt sound right for me. hehehe

http://experiencenegros.com/wp-content/uploads/2009/01/sm-bacolod-hotel-proposed-site.jpg

(photo credit to experiencenegros.com)

^^ love the location mig pero ma block yata ang view ng Southwing from the sea. Pero ok lng maganda naman ang hotel.:)

SMIC sets massive P211-billion capex over 5 years
By Zinnia B. Dela Peña (The Philippine Star) Updated November 17, 2009 12:00 AM


MANILA, Philippines - SM Investments Corp. (SMIC), the investment holding firm of the Sy family, has set a massive capital expenditure program worth P211.32 billion over five years to take advantage of a global economic recovery as well as emerging business opportunities.

On the sidelines of the company’s annual shareholders’ meeting yesterday, SMIC chief finance officer Jose T. Sio said for next year alone, the company has earmarked P40.6 billion for its capex or 31 percent higher than the P31-billion budget in 2009.

Sio said 70 percent of the 2010 capex will come from internally-generated funds while the balance will come from external sources which could either be through debt or equity.

He said the company is in very good shape to support its capex, pointing out that it has cash resources of $1 billion as of end-September this year.

SMIC reported a 14-percent rise in its net profit for the nine months ending September this year to P10.8 billion, with retail and property continuing to be the group’s major drivers of growth. Consolidated revenues likewise went up 14 percent to P110.9 billion while EBITDA amounted to P23.5 billion.

Harley Sy, SMIC president, said: “SMIC’s nine results in 2009 affirm our growth track over the medium term as it is achieved amidst a challenging global business climate. SMIC is poised to enter a new growth cycle led by our retail and property businesses. SMIC’s core businesses, namely malls, retail, banking and property, mirror the strengths of the Philippine economy amidst the global financial crisis.”

Sio said the company is eyeing a net profit of P15.5 billion this year on sales
of P150 billion. The group expects to double this figure by 2014.

Sio said bulk of the programmed capital budget for 2010, or P17.4 billion, will go to the development of 14 residential projects while P12.1 billion has been allotted for the opening of five new local malls and a China mall. Among the sites identified for mall construction next year are Calamba, Laguna; Masinag, Antipolo; Tarlac; Novaliches; and San Pablo, Laguna which are expected to provide 279,228 square meters in total gross floor area.

Three new malls in China - Chonggqing, Suzhou, and Zibo – are targeted for opening between 2010 and 2012. These will add to SM’s three existing mall – in Xiamen, Jinjiang and Chengdu.

The group, through unit SM Prime Holdings Inc., expects a total of 41 malls nationwide by end-2010 with total gross floor area of 4.8 million square meters or 6.2 percent higher than the estimated 2009 GFA of 4.5 million square meters. Its malls currently have a foot traffic of over 2.5 million per day.

Around P6.2 billion has been set aside for the development of 25 new supermarkets and hypermarts while the balance of P4.9 billion will be channeled to the development of hotels within the Mall of Asia complex along Roxas Boulevard, its first boutique hotel in Bacolod, and the 400-room Radissons Cebu.

The 150-room boutique hotel is scheduled for construction in the first quarter next year with the target date for completion set for early 2011. Estimated to cost around P2 billion, the hotel will rise on a 400-square meter lot and will have a gross floor area of 11,500 square meters.

The 20-story Radisson Hotel Cebu, which has a total floor area of 59,750 square meters, is the first Radisson Hotel to operate in the Philippines. The Radisson Hotel within SM Mall of Asia Complex is scheduled to open in 2011.

http://www.philstar.com/Article.aspx?articleId=523964&publicationSubCategoryId=66

^^

GOOD News !!!

SMIC sets massive P211-billion capex over 5 years
By Zinnia B. Dela Peña (The Philippine Star) Updated November 17, 2009 12:00 AM


MANILA, Philippines - SM Investments Corp. (SMIC), the investment holding firm of the Sy family, has set a massive capital expenditure program worth P211.32 billion over five years to take advantage of a global economic recovery as well as emerging business opportunities.

On the sidelines of the company’s annual shareholders’ meeting yesterday, SMIC chief finance officer Jose T. Sio said for next year alone, the company has earmarked P40.6 billion for its capex or 31 percent higher than the P31-billion budget in 2009.

Sio said 70 percent of the 2010 capex will come from internally-generated funds while the balance will come from external sources which could either be through debt or equity.

He said the company is in very good shape to support its capex, pointing out that it has cash resources of $1 billion as of end-September this year.

SMIC reported a 14-percent rise in its net profit for the nine months ending September this year to P10.8 billion, with retail and property continuing to be the group’s major drivers of growth. Consolidated revenues likewise went up 14 percent to P110.9 billion while EBITDA amounted to P23.5 billion.

Harley Sy, SMIC president, said: “SMIC’s nine results in 2009 affirm our growth track over the medium term as it is achieved amidst a challenging global business climate. SMIC is poised to enter a new growth cycle led by our retail and property businesses. SMIC’s core businesses, namely malls, retail, banking and property, mirror the strengths of the Philippine economy amidst the global financial crisis.”

Sio said the company is eyeing a net profit of P15.5 billion this year on sales
of P150 billion. The group expects to double this figure by 2014.

Sio said bulk of the programmed capital budget for 2010, or P17.4 billion, will go to the development of 14 residential projects while P12.1 billion has been allotted for the opening of five new local malls and a China mall. Among the sites identified for mall construction next year are Calamba, Laguna; Masinag, Antipolo; Tarlac; Novaliches; and San Pablo, Laguna which are expected to provide 279,228 square meters in total gross floor area.

Three new malls in China - Chonggqing, Suzhou, and Zibo – are targeted for opening between 2010 and 2012. These will add to SM’s three existing mall – in Xiamen, Jinjiang and Chengdu.

The group, through unit SM Prime Holdings Inc., expects a total of 41 malls nationwide by end-2010 with total gross floor area of 4.8 million square meters or 6.2 percent higher than the estimated 2009 GFA of 4.5 million square meters. Its malls currently have a foot traffic of over 2.5 million per day.

Around P6.2 billion has been set aside for the development of 25 new supermarkets and hypermarts while the balance of P4.9 billion will be channeled to the development of hotels within the Mall of Asia complex along Roxas Boulevard, its first boutique hotel in Bacolod, and the 400-room Radissons Cebu.

The 150-room boutique hotel is scheduled for construction in the first quarter next year with the target date for completion set for early 2011. Estimated to cost around P2 billion, the hotel will rise on a 400-square meter lot and will have a gross floor area of 11,500 square meters.

The 20-story Radisson Hotel Cebu, which has a total floor area of 59,750 square meters, is the first Radisson Hotel to operate in the Philippines. The Radisson Hotel within SM Mall of Asia Complex is scheduled to open in 2011.

http://www.philstar.com/Article.aspx?articleId=523964&publicationSubCategoryId=66

^^I hope they would release an updated rendering as early as the first quarter of 2010.

SITE OF THE SOON TO BE CONSTRUCTED SM HOTEL IN BACOLOD

http://farm3.static.flickr.com/2797/4135759676_faf23b1d7c_o.jpg

^^ When will the hotel break ground? I hope the SM Hotel in Naga will look somehow like Bacolod's. I like! :okay:

Not really, the soon to be opened Radisson Hotel in Cebu is owned by SM.

Taal Vista is an SM-managed hotel. Or I think SM already acquired it. Either, or, that technically makes it the first SM Hotel in the country.

^^it falls under a different category siguro @kevinb...bacolod's sm hotel is a boutique hotel, that's why they said it will be their first and they will have it first in bacolod.:)

^^ You have a point. Taal Vista and Radisson Cebu are not boutique hotels, unlike SM Hotel Bacolod. Sana may news na din tungkol sa SM Hotel sa Naga.:D:D:D

http://farm3.static.flickr.com/2627/4201526107_8b9058f59a.jpg

future site of SM hotel

^^this will of course change the landscape of this part fo the reclamation area. hopefully, this will also give an impetus to lot owners nearby to put up businesses in the southern portion of the reclamation area. :cheers:

ANY Update???:(

^^


Same man gihapon migs, wala pa gid updates.....mahulat lang ta ah.:D

naunahan pa sya xng Two Sanparq... basi may changes sa ila design kg sa height.. prehu sang natabu sa Two SanParq. :)

ti anu na ni

hahhahaa..nabanhaw ang thread..asa ka pa mig..:D

haha asa kada,,,nasapwan ko ni sa 1st to the last...sang wala pani gani ang capitol bidding nga issues

Wala pa ni tsansa mig, sa lain subong sila naga concentrate...:ohno:

Wala pa ni tsansa mig, sa lain subong sila naga concentrate...:ohno:

basi lain nga malain mig:nuts:

make the Philippines a federal country.