TRAVELLERS International Hotel Group, Inc. has chosen Japanese luxury hospitality chain Hotel Okura Co., Ltd. to operate a 191-room hotel within the country’s first integrated resort, the listed company told the stock exchange on Friday.
Travellers International, owner and operator of Resorts World Manila (RWM) in Pasay City, said it had formalized an agreement with the Japanese firm to operate Hotel Okura Manila, which is planned to have its soft opening in the fourth quarter of 2018.
“The Philippines, especially Manila, is a very promising market considering the nation’s gross domestic product (GDP) and population size, both of which are growing fast. The local hotel business is benefiting from these and other favorable trends,” Travellers International quoted Okura President Toshihiro Ogita as saying.
Hotel Okura Manila is set to join RWM’s portfolio of international hotel brands, which include Marriott Hotel Manila and the soon-to-open Sheraton Manila Hotel and Hilton Manila.
Travellers International also said Remington Hotel, RWM’s value-for-money offering, will be rebranded Holiday Inn Express.
The signing of the agreement with Okura was held at the Marriott Hotel Manila, and was attended by Mr. Ogita and Hidetoshi Ishimaru, corporate executive officer of Okura and Yeonhang Chua, senior advisor, InterAsia Links Co.
Kingson Sian, Travellers International president and chief executive, represented the listed company along with Bernard Than Boon Teong, chief financial officer and Georgina A. Alvarez, chief legal and corporate services officer.
“Having worked closely with Mr. Kingson Sian, we are confident that we will receive their full support as a reliable partner to operate the hotel. We will leverage the group’s expertise in traditional Japanese hospitality to make Hotel Okura Manila a much-beloved hotel among both local and foreign visitors,” Mr. Ogita said.
Travellers International said Okura plans to expand its growing portfolio to 100 properties worldwide, with focus on Asia. It said Hotel Okura Macau opened in 2011, followed by the opening of The Okura Prestige Bangkok and The Okura Prestige Taipei in 2012.
It also said Okura plans to open Okura brand hotels in Cappadocia, Turkey in 2019, Manila, Phnom Penh, Ho Chi Minh City and Yangon in 2020, and Taichung, Taiwan in 2021.
“Hotel Okura aims to strengthen the bond with promising markets including the Philippines. To enforce its commitment, Hotel Okura has made a donation of 100,000 USD to the Philippine Red Cross for natural disaster recovery in 2018,” it also said.
On Friday, Travellers International rose 0.74% in early afternoon trading to P4.08.