Fairmont Makati Hotel and Raffles Suites and Residences [30F|com]

[portludlow]

Ayala Land, Kingdom Hotel in $153M deal

http://www.abs-cbnnews.com/storypage.aspx?StoryId=69314
Ayala Land Inc., the Philippines' biggest property firm, and Kingdom Hotel Investments are jointly developing a $153 million upscale hotel complex in Makati.

In a disclosure to the Philippine Stock Exchange, Ayala Land chief finance officer Jaime Ysmael said the development of the 7,377 square meter property will comprise a 300-room Fairmont Hotel, a 30-suite Raffles Hotel and 189 Raffles-branded private residences.

Kingdom Hotel, a hotel and resort investment firm, is chaired by Saudi Prince Alwaleed bin Talal Abdulaziz Alsaud.

[kunoL8]

nice! hopefully, they'd have renderings soon. that would be the first Fairmont hotel in Asia, i think.

[ryanr]

Nice to hear! Its about time a new upscale 5-star gets built.

I looked up their website and they also operate some Four Seasons hotels and Movenpick hotels.

[venntro]

Where is this 7,377 square meter property in Makati located? Will the lot between Shangri-la and Landmark be part of this project?

[venntro]

I will answer my own query. I contacted a friend from the Philippine Stock Exchange and was provided the contents of the actual disclosure of ALI:

Here's the copy:

Please be advised that Ayala Land, Inc. (“ALI”) and Kingdom Hotel Investments (through a wholly-owned subsidiary) signed today an Agreement to jointly develop a 7,377 square meter property along Makati Avenue corner Arnaiz Avenue (formerly Pasay Road) into a Luxury Hotel Complex.

The development will comprise a 300-room Fairmont Hotel, a 30-suite Raffles Hotel, and 189 Rafflesbranded private residences. The total project cost will be approximately US$153 million.

The objectives of Kingdom Hotel Investments (“KHI”) are to develop, acquire, finance and actively manage high quality hotels in key city and resort destinations in the Middle East, Africa and in Asia and Eastern Europe. KHI’s head office is in Dubai, UAE. Due to its industry focus and diversified investment portfolio, KHI is a prominent hospitality related private equity company with an underlying portfolio consisting of 33 hotels, of which 19 are
operational and 14 under development. KHI enjoys strategic partnerships with leading global hotel operators: Four Seasons Hotels and Resorts, Fairmont Hotels and Resorts, Raffles Hotels and Resorts, and Mövenpick Hotels and Resorts.

His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz Alsaud, member of the Saudi Royal family, is the founder, majority shareholder, and chairman of KHI. Prince Alwaleed has real estate ownership interests in hotel and resort properties throughout the world and has significant equity investments in leading international hotel management companies, namely Four Seasons Hotel and Resorts, Fairmont Hotels and Resorts, Raffles Hotels and Resorts, and Mövenpick Hotels and Resorts, which manage hotels throughout the world.

For your information.

Very truly yours,
(original copy signed)
JAIME E. YSMAEL
Senior Vice President, Chief Finance Officer,
and Compliance Officer


It seems the area may be the commuter terminal across Rennaisance hotel (formerly New World Hotel) and beside Landmark because this is the corner lot bordering Makati Avenue and Arnaiz.

[ryanr]

Interesting. Thanks for the info, venntro So i guess they will move the commuter terminal somewhere else? Seems like a good location, as long as they don't forget about the commuters.

The greenbelt-makati ave. area is really being developed into a 5 star service sector with signature retail brands in GB4, GB5 and 5 star hotels nearby.

Raffles hotel in Singapore is not the Kingdom hotels website. So they are not related?

[laquacherra]

with that new development around that area, imo The Landmark will definitely be out of place there it's time for either a major facelift or a replacement

[kunoL8]

Originally Posted by GreyX

Interesting. Thanks for the info, venntro So i guess they will move the commuter terminal somewhere else? Seems like a good location, as long as they don't forget about the commuters.

The greenbelt-makati ave. area is really being developed into a 5 star service sector with signature retail brands in GB4, GB5 and 5 star hotels nearby.

Raffles hotel in Singapore is not the Kingdom hotels website. So they are not related?

i think that's because the raffles hotel in singapore isn't a property of kingdom hotels. i think what kingdom hotels does is build the hotel and then partners with a hotel chain (ie. raffles hotels and resorts, fairmont, etc.) to manage the hotel they built. i'm really looking forward to this development. after all, the fairmont and raffles are very prestigious hotel chains comparable to four seasons and ritz carlton.

@laquacherra: i know. landmark is too outdated. they've maintained that 70s/80s block look for too long and they need a total revamp of their merchandise. with all the high end developments in the area, they need to cater to that meaning more upscale brands and stuff.

[pau_p1]

hmm... that Ayala Center Terminal (ACT) does seem to be a good location... but where would they move that passenger terminal... hmmmm....

that hotel development will surely beautify that corner...

[joexp]

very good

[carlo pontevedra]

Originally Posted by pau_p1

hmm... that Ayala Center Terminal (ACT) does seem to be a good location... but where would they move that passenger terminal... hmmmm....

that hotel development will surely beautify that corner...

I have a suggestion: an underground bus terminal. Ayala can and should develop such a bus terminal in the area. What Ayala can probably do is demolish the existing Park Square, build a new multi-level structure with underground parking to serve as bus terminal. This can be constructed simultaneously with the planned hotel complex within the area.

[ryanr]

Originally Posted by kunoL8

i think that's because the raffles hotel in singapore isn't a property of kingdom hotels. i think what kingdom hotels does is build the hotel and then partners with a hotel chain (ie. raffles hotels and resorts, fairmont, etc.) to manage the hotel they built. i'm really looking forward to this development. after all, the fairmont and raffles are very prestigious hotel chains comparable to four seasons and ritz carlton.

Right, thanks for the clarification. yes, so i noticed they partnered with top hotel chains like Fairmont and Four Seasons. The Fairmont hotels in Vancouver/Victoria are not partnered with Kingdom hotels then

[ryanr]

Originally Posted by carlo pontevedra

I have a suggestion: an underground bus terminal. Ayala can and should develop such a bus terminal in the area. What Ayala can probably do is demolish the existing Park Square, build a new multi-level structure with underground parking to serve as bus terminal. This can be constructed simultaneously with the planned hotel complex within the area.

Good idea. The best location i can think of is on Park Square One so that it will be closer to the Ayala MRT3 station. It would be a great inter modal transportation hub.

[carlo pontevedra]

Originally Posted by kunoL8

nice! hopefully, they'd have renderings soon. that would be the first Fairmont hotel in Asia, i think.

You are right: Fairmont Makati is the first Fairmont hotel in Asia.

[Dvorak]

How does Kingdom Hotels look like?

[SKYLINEPIGEON]

Originally Posted by GreyX

Right, thanks for the clarification. yes, so i noticed they partnered with top hotel chains like Fairmont and Four Seasons. The Fairmont hotels in Vancouver/Victoria are not partnered with Kingdom hotels then

they own some fairmont hotels but maybe not the one in vancouver, though khi owns shares in farimont hotel company, will this be the prince's first hotel investment in asia i mean the one in makati? this was the commitment of the prince to gma when shes visited riyadh last year that he would send a team to the philippine to explore the possiblity of investing in the hotel or tourism

[venntro]

I agree that Landmark seems to be out of place with the new development of Kingdom Hotel and ALI. I hope it's a glassy building. Renderings are supposed to be released after holy week as I was informed by my PSE source. As to the project timetable, ALI is keeping mum,.

[carlo pontevedra]

Originally Posted by Dvorak

How does Kingdom Hotels look like?

There is no uniformed pattern as far as looks or designs are concerned. Take for example the George V (Four Seasons Hotel Paris), which is owned by Prince Al Waleed. He acquired the said hotel about 6 or so years ago. It has an art deco design. Fairmont Hotel Dubai, another hotel that's controlled by Prince Al Waleed, has, of course, a classic Middle Eastern/Mediterranean design. The Kingdom Holdings Tower in Riyadh, which houses the Four Seasons Hotel, is an ultra-modern high-rise structure. The said Tower is the jewel in Prince Al Waleed's landmark properties in the Middle East. It was voted as the Best Building in the year 2005.

[ryanr]

Originally Posted by Dvorak

How does Kingdom Hotels look like?

you can check them out here: http://www.kingdomhotels.com/operatinghotels.html

[carlo pontevedra]

Is the corner lot on Ayala Avenue/Makati Avenue up for development? It could be an ideal location for Kingdom Holdings regional headquarters in Asia.