Ayala Land real estate plans to diversify its activities as a full-range property developer with the launch of its first budget hotel chain, thereby earning a broader representation and market share.
Ayala Land Inc. plans to expand its portfolio by adding a budget hotel chain. The first of these hotels will be located in the South Park District of Muntinlupa, the Philippines, where the group has recently acquired property. The hotel should open by the fourth quarter of this year.The new chain will assure a wider representation of Alaya, across all market segments, thereby earning a larger market share. According to Jose Emmanuel Jalandoni, ALI capital and hotels group head, a typical project within this chain will consist of 150 to 200 rooms.Ayala Land plans to boost its portfolio to 4,000 rooms by 2015.
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