PHILIPPINE property developer Roxaco Land Corp and Singapore-based Vanguard Hotels have formed a 50-50 joint venture that will invest in building a minimum of five Go Hotels.
Go Hotels is the limited-service hotel brand of the Robinsons Group of Companies affiliated with Cebu Pacific.
Roxaco senior vice president, Santiago R Elizalde, said: “Go Hotels is an established brand. The relationship and cross-marketing possibilities with Cebu Pacific was also a major factor in our decision.”
Elizalde said: “Vanguard has an agreement in place with Robinsons Land to construct 20 hotels so we will have the option to continue opening hotels if the business performs as expected.”
He said the joint venture is now focusing on Metro Manila but is also exploring provincial locations.
“Right now, we have a property located near the Ninoy Aquino International Airport (currently under construction) and we are looking to close the purchase of another in North EDSA. We are looking at approximately 180 to 200 keys per hotel.
“Robinsons Land will continue to construct Go Hotels as well but its priority will be to locate the hotels within their mall properties throughout the country.”
