SM Hotels and Convention Corp. (SMHCC), a unit of property developer SM Prime Holdings Inc. (SMPHI), is investing up to P15 billion to expand its
SM Hotels and Convention Corp. , a unit of property developer SM Prime Holdings Inc. , is investing up to P15 billion to expand its portfolio over the next five years.
SMPH said SMHCC is enhancing its competitive edge with new function rooms, additional food and beverage outlets and room renovations at Taal Vista, Pico Sands Hotel and Park Inn by Radisson Davao. The company set an aggressive expansion plan amid strong occupancy rates across its hotel and convention properties on increasing demand for travel and MICE .
SM hotels achieved a 67-percent occupancy rate, marking a 2-percentage-point increase from the previous year. Hotels located in National Capital Region outperformed the hospitality industry, with occupancy rate averaging 71 percent.
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