Property giant Megaworld has restructured its hotel business into two distinct divisions under new leadership to support expansion and house more global franchises.
The group formed Megaworld Global Hotels and Resorts, comprising two operating arms. The first, Megaworld Hotels and Resorts (MHR), manages homegrown-branded hotels across Metro Manila, Boracay, Batangas, and Cebu.
The second, Megaworld Global Hospitality (MGH), will handle international brands, including Mövenpick Manila Bay Westside, upcoming properties in Palawan, and Courtyard by Marriott, as well as Richmonde and Belmont Hotels in Iloilo.
Prior to the restructuring, the hospitality division operated under a single unit, Megaworld Hotels and Resorts, led by managing director Cleofe Albiso since 2022. A company source confirmed that Albiso and group general manager Art Boncato Jr. have decided to step down.
Socrates Alvaro, previously cluster general manager, steps up as managing director of the newly structured MHR. Meanwhile, Anna Vergara, former general manager of Sheraton Manila Hotel, joins as managing director of MGH.
A company source confirmed that Albiso is approaching her final days with the group and completing endorsements with her successors as she moves on to her next chapter, adding that she made a significant impact during her tenure.
Albiso helped guide Megaworld to become the Philippines’ largest local hotel operator, pioneering MICE Alliances in Iloilo and Boracay, while contributing to the formation of Cebu’s MICE Alliance.
The leadership transition comes as hospitality stands as Megaworld’s fastest-growing recurring revenue segment. The unit logged an 11 per cent revenue increase in the first half of the year, driven by the recent opening of the 405-room Belmont Hotel Iloilo.
