While badly hit by the pandemic, the hospitality industry may see investment activities, which will contribute to its recovery, Sunstar reported citing insights from the property consultancy firm JLL Philippines.
According to the real estate experts, several investors are mulling acquisitions amid the pandemic, with some considering management contracts in key locations. Acquisitions during this crisis must be “opportunistic,” according to JLL. Investors who take risks while the hospitality industry is under pressure may enjoy long-term promising results.
Currently, several hotels are serving as isolation facilities. With the rising number of COVID-19 cases in Metro Manila recently, doctors are appealing to the government to turn some hotels into temporary hospital facilities to accommodate patients, Inquirer reported. The Philippine College of Physicians (PCP) said that the move will be faster than arranging modular tents or building hospital facility extensions.
Still a Tourism Hotspot
JLL added that hotel players anticipate a recovery in tourism once travel restrictions are lifted and the vaccination program sustains momentum. In addition, the promotion of domestic travels and staycations can prompt demand in the hospitality industry.
In the meantime, while quarantine measures are still in place, the international recognition of Philippine destinations spurs tourist interest. In a report from ABS-CBN News, the country was nominated yet again in the World Travel Awards (WTA), one of the most prestigious recognition bodies in the travel, tourism, and hospitality industries.
The Philippines is shortlisted for two award categories, Asia’s Leading Beach Destination and Asia’s Leading Dive Destination. Intramuros is among the candidates for Asia’s Leading Tourist Destination, while Cebu is for Asia’s Leading Wedding Destination.
Last year, the country bagged the titles Asia’s Leading Beach Destination and Asia’s Leading Dive Destination. It was the fourth time the Philippines won the former, second time on the latter. Intramuros won as Asia’s Leading Tourist Attraction.
A few properties, including hotels, resorts, and farms, have also entered the prestigious list of this year’s nominees on different categories:
- Discovery Primea – Asia’s Leading Business Hotel
- City of Dreams Manila – Asia’s Leading Casino Resort and Asia’s Leading Fully Integrated Resort
- Amanpulo – Asia’s Leading Family Villa Resort and Asia’s Leading Private Island
- Raffles Makati Residences – Asia’s Leading Hotel Residences
- The Farm at San Benito – Asia’s Leading Retreat
- Ascott Bonifacio Global City Manila – Asia’s Leading Serviced Apartments
The Department of Tourism (DOT) is also nominated for Asia’s Leading Tourist Board.
Kicking off last March 30, the voting period for Asia will last until August 16. The DOT encourages the public to cast votes to show support for the tourism industry recovering from the ills of the health crisis.
Booming Destinations
In the latest trend report Lamudi published titled Indicators of Growth: Where to Invest in 2021, it was noted that the vacation rental property market already saw signs of recovery in the second half of 2020, a period when community quarantine measures in the country were easing up.
Listings on rental properties in Antipolo, Lapu-Lapu, and Tagaytay generated a significant number of inquiries from property seekers. The leads for listings priced between 30K-60K posted a surge of 550 percent from the second half of 2019. Meanwhile, the leads for listings priced between 60K-100K spiked by 398 percent from the same period in the same year.
The report added that residential spaces close to leisure spots, such as beaches, grew in demand in 2020. Batangas, which hosts a number of beachfront houses, saw the highest growth in leads, 143 percent in the second half of the year compared to the year prior.
The positive development in the latter half of 2020 provides a snapshot of the accommodation industry’s strength in bouncing back when restrictions are lifted.
Safeguards for Hotspots
Amid the optimism in the recovery of the travel and hospitality industry, stakeholders are careful to observe health measures in tourist destinations, especially in areas that experienced a spike in the number of COVID-19 cases. The tourism department highlights the importance of protocols, including wearing masks and face shields and physical distancing, in travel corridors or domestic bubbles.
Meanwhile, mandatory COVID-19 testing before travel is up to the local government unit’s discretion, as Inquirer reported. It is, however, required for tourists visiting:
- Boracay
- Bohol
- El Nido, Palawan
- Coron, Palawan
- San Vicente, Palawan
- Puerto Princesa, Palawan
- Pangasinan
- La Union
- Siargao
- Siquijor
- Dumaguete, Negros Oriental
- Iloilo City
- Cebu City
Article and Photo originally posted by Lamudi last April 8, 2021.
About Post Author
More Stories
Banks’ total assets up at P26.2 trillion end-June
Lamudi sees heightened developer confidence with rise in ad spending
Phase 1 of PHINMA’s Bacolod township to finish by next year