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Business Feature Properties Travel

Savoy Hotel Mactan Newtown opens

With its 547 guest rooms, Savoy Hotel Mactan Newtown is the biggest hotel in terms of number of rooms in Mactan Island and the 2nd biggest in the entire Cebu.

The 18-storey hotel officially opened today. The hotel targets mostly business travelers and family vacationers because of its proximity to the beach and resorts around Mactan, as well as the new Mactan-Cebu International Airport.

“Savoy Hotel Mactan Newtown is just 15 minutes away from the airport, which makes it a perfect choice for business travelers. Its location also allows one to experience the beach and the township at the same time, where restaurants, cafes, supermarket, spa, and other retail shops are just within easy reach,” said Megaworld Hotel Managing Director Raymundo Melendres.

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Properties

Megaworld to open 3rd Savoy Hotel in Mactan

The company’s first hotel development in Cebu offers 547 rooms and suites, with close accessibility to Mactan Newtown Beach and future ‘beach mall’

Township developer Megaworld is opening its first hotel development inside its 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu next month.

The 18-storey Savoy Hotel Mactan will offer 547 guestrooms and suites, targeting mostly business travelers and family vacationers because of its close accessibility to the beach and resorts around Mactan, as well as the new Mactan-Cebu International Airport.

“Savoy Hotel Mactan is just 15 minutes away from the airport, which makes it a perfect choice for business travelers. Its location also allows one to experience the beach and the township at the same time, where restaurants, cafes, supermarket, spa, and other retail shops are just within easy reach,” said Raymundo Melendres, managing director of Megaworld Hotels.

The hotel offers superior and deluxe rooms, deluxe premier, and junior suites – all fully equipped with essential amenities, in-room electronic safety box, 43” LED TV, coffee and tea-making facilities, mini-bar, and wireless internet connection.

Interiors

Savoy Hotel Mactan’s interiors are designed by world-renowned Hirsch Bedner Associates (HBA), the same firm that designed Marina Bay Sands and Fullerton Hotel in Singapore, as well as Shangri-La Dubai and St. Regis Abu Dhabi in UAE.

The hotel also has a wide range of function and meeting rooms. It also has food and beverage outlets such as the Savoy Café for breakfast and all-day dining, Lobby Café for coffee and pastries, Zabana Bar at the lobby area that offers cocktails and drinks, Pool Bar at the third level, and the Patio, an outdoor dining area located at the second level.

Savoy Hotel Mactan, Cebu

The hotel’s amenities include a swimming pool, paved sunbathing lounge, fitness center, business center, and a flower garden.

“Savoy Hotel Mactan caters to smart travelers who appreciate the harmony between work and leisure, where they can discover and experience the hospitality of passionate Filipino hoteliers,” said Grace Bartolome, Savoy Hotel Mactan general manager.

To be operated by Megaworld Hotels, Savoy Hotel Mactan will offer complimentary shuttle services to and from the Mactan Newtown Beach. Transport services will also be offered to guests traveling to and from the Mactan-Cebu International Airport.

Introductory rates

As the hotel opens its doors in November, it will offer introductory rates of P3,288 to P5,888 per night, inclusive of buffet breakfast for two, depending on the room category.

Megaworld spent P1.7 billion to build the hotel, which is one of the many hotels that it plans to put up inside The Mactan Newtown.

Savoy Hotel Mactan is the third hotel under the Savoy Hotel brand, a homegrown hotel chain established by Megaworld. Other Savoy Hotels have already opened in Boracay Newcoast and in Newport City, Pasay City.

To date, Megaworld Hotels has already opened four other homegrown brands aside from Savoy: Richmonde Hotels, Belmont Hotels, Twin Lakes Hotel, and Hotel Lucky Chinatown, with around 3,200 hotel rooms. In the next 5 years, the company will also open new homegrown hotel brands in Parañaque, Bacolod, Iloilo, Boracay, and Laguna.

Just last month, Megaworld also opened the P2.1 billion Belmont Hotel Boracay inside Boracay Newcoast, a 150-hectare tourism township being developed by its subsidiary, Global-Estate Resorts, Inc. (GERI).

During the first quarter this year, Megaworld’s hotel business became the fastest-growing segment of the quarter, soaring 56% to P574 million compared to last year’s P368 million.

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Business Properties

Megaworld’s 1st half 2019 earnings up 18% to P8.9B

Residential, rental, and hotel businesses register double-digit growth

Megaworld, the country’s pioneer in and largest developer of townships, grew its net income by 18% to P8.9-billion in the first half of 2019 from P7.5-billion during the same period last year. Excluding a non-recurring gain of about P189-million in the first six months of 2019, the company saw a 15% increase in earnings compared to the same figure last year.

Net income attributable to parent company, on the other hand, rose 16% to P8.3-billion from P7.2-billion during the same period the previous year.

Double-digit growth

Megaworld’s earnings was fueled by a collective growth of 16% in its core businesses related to residential sales, leasing of Megaworld Premier Offices and Megaworld Lifestyle Malls, as well as operations of the brands under Megaworld Hotels. Each of the company’s core businesses exhibited double-digit growth from January to June this year.

Likewise, consolidated revenues of the company went up 18% to P31.7-billion during the first half of 2019 from P27-billion during the same period last year. Broken down, Megaworld’s residential business, rental, and hotel operations, accounted for 63%, 26%, and 4% of total revenues, respectively. The balance of 7% came from its non-core revenues.

Megaworld Hotels: The company’s hotel business was the fastest-growing segment for the first half of the year, growing 80% compared to the same period last year.

MEGAWORLD HOTELS. The company’s hotel business was the fastest-growing segment for the first half of the year, growing 80% compared to the same period last year.

“The current economic landscape is quite favorable so we continue to be optimistic on the remaining five months of 2019. Interest rates are on a downtrend, which is a very positive news for our residential business. Vacancies in both office and commercial segments are on an all-time low, and we don’t see this changing in the near future due to the robust sign-ups we are seeing from big companies and business owners. Tourism growth, likewise, remains strong, and this should continue to fuel our blossoming hotel operations especially that we are opening more hotels henceforth,” said Kevin L. Tan, chief strategy officer, Megaworld.

New inventory

Residential sales improved to P20.2-billion during the first six months of 2019 from P18.1-billion during the same period in 2018, registering a growth of about 11% year-on-year.

The company launched a total of P39-billion in new inventory during the first half of the year while sales reservations reached P80-billion by the end of the period.

On the rental front, Megaworld’s leasing revenues soared to P8.1-billion during the first six months of the year from P6.8-billion in the same period in 2018, a remarkable 20% growth year-on-year.

By yearend, the company is expected to complete more than 230,000 square meters of leasable space from its two rental brands of Megaworld Premier Offices and Megaworld Lifestyle Malls all over the country.

MCKINLEY HILL. The 50-hectare McKinley Hill in Fort Bonifacio celebrates its 15th anniversary this year and serves as a home to 90,000 office workers.

MCKINLEY HILL. The 50-hectare McKinley Hill in Fort Bonifacio celebrates its 15th anniversary this year and serves as a home to 90,000 office workers.

Megaworld Lifestyle Malls

Just a few weeks ago, the company announced that it plans to expand its Megaworld Lifestyle Malls footprint outside of Metro Manila with the opening of 8 new malls and commercial centers in key regional centers in the next three years. The plans will cover as much as 200,000 square meters of fresh retail inventory until 2022.

The company’s hotel operations under the Megaworld Hotels brand became the fastest growing segment during the first half of 2019, soaring 80% to P1.3-billion from P715-million last year.

Megaworld Hotels is expected to add another 1,000 room keys this year with the scheduled openings of Belmont Hotel Boracay and Savoy Hotel Mactan Newtown before year-end.

Megaworld Hotels now has 8 homegrown hotels across the country: Richmonde Hotel Ortigas, Eastwood Richmonde Hotel, Richmonde Hotel Iloilo, Savoy Hotel Manila, Savoy Hotel Boracay, Belmont Hotel Manila, Hotel Lucky Chinatown, and Twin Lakes Hotel.

Masterplanned townships, lifestyle communities

Celebrating its 30th year in the real estate industry, Megaworld already has 24 masterplanned townships and integrated lifestyle communities across the country, namely: Eastwood City in Libis, Quezon City, (18.5 hectares); Newport City in Pasay City (25 hectares); McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town (5 hectares), all in Fort Bonifacio, Taguig City; The Mactan Newtown in Lapu-Lapu City, Cebu (30 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); Boracay Newcoast in Boracay Island (150 hectares); Twin Lakes in Alfonso, Batangas near Tagaytay (1,200 hectares); ArcoVia City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Piñas City (62 hectares); Eastland Heights in Antipolo, Rizal (640 hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares); Maple Grove in General Trias, Cavite (140 hectares); The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares); The Upper East (34 hectares) and Northill Gateway (50 hectares) both in Negros Occidental; Capital Town Pampanga beside the Pampanga Provincial Capitol in the City of San Fernando (35.6-hectares); Westside City in the Entertainment City in Paranaque City (31 hectares); and Highland City in Cainta, Rizal (24 hectares). (Press Release)