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Araneta to develop new budget hotel in Cubao

araneta-budget-hotel

ARANETA CENTER, Inc. (ACI) plans to launch a new hotel, which will cater to the millennial market, within its 35-hectare property in Cubao, Quezon City.

"We will be coming up with a new hotel. It will be a lifestyle budget hotel, run by also a popular international brand," ACI Senior Vice-President for Operations Antonio T. Mardo told reporters on the sidelines of a company event last week.

Mr. Mardo said the new hotel will have around 300 rooms, with a lower price point than ACI's first hotel in the property, Novotel Manila.

"This will be catering to the millennials... will be directed towards the young traveler, and young families as well," the ACI executive said.

The introduction of a second hotel forms part of ACI's P50-billion redevelopment of the Araneta Center complex, which will see more office, retail, and residential projects over the next 10 to 15 years.

For the office component, ACI has recently topped off its second office tower called CyberPark Tower 2. The company plans to launch three more office towers in the coming years, bringing the gross floor area of its office properties to 600,000 square meters (sq.m.).

Mr. Mardo said the towers are expected to attract business process outsourcing companies, as well as Philippine Offshore Gaming Operators (POGOs) once the Quezon City government irons out rules for such businesses.

"The challenge in Quezon City, (POGOs) are not yet an accepted type of business. Maybe we can talk to the city government... It should be pulled to the city because you get to fill up your offices, there is revenue, and you pay taxes to the city. They also get licenses from the city government," Mr. Mardo said.

ACI is also propping up its retail spaces with the expansion of Gateway Mall. So far, it has brought Gateway Mall 1's GFA to 100,000 sq.m. The company is adding currently adding 130,000 sq.m. for Gateway Mall 2, and another 100,000 sq.m. for Gateway Mall 3.

"We are going to introduce new concepts that will hopefully entice more people to the Gateway Mall, our new hotel, to Novotel, and to the entire development," Mr. Mardo said.

For the residential aspect, ACI is currently building the 18-tower Manhattan Residences.

Mr. Mardo cited Araneta Center's prime location compared to other developments, given its access to different points in the metro through different modes of transportation through the Metro Rail Transit Line 3, Light Rail Transit Line 2, and provincial buses and UV express terminals.

"The access to transportation, and 24/7 activity. We are probably the only center that has all types of access," Mr. Mardo said.

 

Retrieved from: http://bworldonline.com/araneta-to-develop-new-budget-hotel-in-cubao/

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