Cebu hotel sees more guests, focuses on improving brand
AFTER almost a year of operation, Harold’s Hotel is enjoying steady occupancy and focusing on making the property take off as a premier business hotel.
“We will be working on that, building the brand so that we can have a clear image to our customers,” said Rey L. Fuentes, chief operating officer of Platinum Beacon Strategic Management Corp.
Fuentes said the company is happy with the performance of Harold’s Hotel, which opened in February this year.
“To date, we are already enjoying a high occupancy rate with an average of 70 percent since we soft opened in February. We are optimistic that we will be able to perform better in the months to come,” Fuentes said in an interview.
Platinum Beacon Strategic Management Corp. is looking for other properties to develop and manage in the Visayas and Mindanao.
“The long-term plan is to become a chain of hotel properties either owned or managed. We are already looking for more opportunities to realize that plan,” Fuentes said.
Harold’s Hotel, the company’s first managed property, is a P300 million investment with 90 rooms located in a 2,000-square-meter lot in Gorordo Avenue, Cebu City.
Fuentes said the location, a few minutes walk or car ride to business and commerical districts in Cebu City, is a distinct attraction for clients.
“Most of our guests are Filipino corporate executives. We also have foreign guests mostly booked through travel and tour agencies,” he said.
Fuentes said the company has other properties in Cebu Business Park and Asiatown IT Park in partnership with GPH Properties.
“We have a lot right across The Walk in Asiatown IT Park and another in Cebu Business Park. We are still looking at what type of properties to develop in these areas,” Fuentes said.
As a new developer, Fuentes said that they are optimistic about Cebu’s real estate industry and expect it to become more competitive but still profitable for all developers.
“In the past, economists have been talking about a glut in the market, but it never happens and developers continue to develop more properties. We think that as long as there is population growth, there will always be people in need of shelter,” Fuente said. /Reporter Aileen Garcia Yap
