PHINMA HOSPITALITY, Inc., the hospitality arm of Del Rosario-led PHINMA Corp., plans to add 350 rooms across its hotel properties in Pasig, Bacolod, and Davao starting next year.
“With regards to the number of rooms, in (Microtel) Mall of Asia, we’re adding 100. In terms of the franchises that we have, I think (Tryp) Samal will be about another 100 rooms, while Tryp Bacolod will have about 150,” PHINMA Corp. Investor Relations Officer Kara A. Albert told a media briefing on Tuesday.
The 150-room TRYP by Wyndham Hotel will be located within Saludad, PHINMA’s 21-hectare mixed-use development in Bacolod City. The company is set to break ground for the hotel in the coming months.
TRYP by Wyndham, a joint project by PHINMA Microtel Hotels and Damosa Land, Inc. (DLI), is a six-storey hotel along the coast of Samal Island, Davao del Norte.
Construction of the 100-room hotel is slated for completion by 2028, DLI said earlier.
Meanwhile, Microtel by Wyndham Mall of Asia, which opened in 2010, serves business and leisure visitors in the Bay Area.
PHINMA’s hospitality arm, which comprises Coral Way City Hotel Corp., PHINMA Hospitality, Inc., and PHINMA Microtel Hotels, Inc., posted combined revenues of P374.51 million and a net loss of P21.06 million in the first nine months.
The company recorded lower occupancy due to ongoing expansion at Microtel Mall of Asia, while fewer tourist arrivals affected other hotel properties.
The dip was partly offset by sustained bookings from leisure, corporate, and meetings, incentives, conferences, and exhibitions (MICE) markets, PHINMA said.
EDUCATIONFollowing the completion of its 10-storey Horizon University building in West Java, PHINMA Education Holdings, Inc. said its expansion efforts in East Java are progressing.
“I think the negotiation is underway. In fact, it’s already in the advanced stage. So we are looking to close — finalize this expansion, if not at the end of this year, perhaps early next year,” PHINMA Corp. Vice-President and Treasurer Nanette P. Villalobos said during a briefing on Tuesday.
The company recently increased student capacity at Horizon University Indonesia in West Java by 7,000 to nearly 10,000.
“We’re very excited with these new investments in Indonesia. So we’re going to be with the same partner, Triputra, and still under the Horizon University of Indonesia,” Ms. Villalobos added.
PHINMA began operations in Indonesia in 2019 through partnerships with the Triputra Persada Horizon Education Foundation to manage Horizon University Indonesia in Karawang and Kalbis University in Jakarta.
PHINMA Senior Portfolio Manager Andre F. Ramirez said while the company recognizes Vietnam and East Java as important markets, it is waiting to secure the right local partners before pursuing opportunities there.
“I think we’re being very strategic with how we look at things. When we look at the Philippines, we’re not anywhere near a saturation level, so that will continue to be the primary focus, especially for the education unit. When we look at Vietnam and East Java, we see these as crucial markets that we continue to monitor, but we have to make sure we have the right partners in place for this,” he said.
In August, PHINMA Education said it aims to expand into Vietnam by 2027 to widen its international presence.
“In terms of [other] expansion plans, I think we’ll continue to see a lot of organic growth out of our schools, but also taking a look at maybe some inorganic opportunities as they come,” Mr. Ramirez added.
PHINMA Corp. reported a net loss of P216.45 million in the first nine months, driven by weaker results in its property, construction materials, and hospitality businesses.
PHINMA shares were last traded on Nov. 19, unchanged at P16.38 per share. — Beatriz Marie D. Cruz and Alexandria Grace C. Magno