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Cebu developer eyes more hotel projects in Visayas, Mindanao

An artist's perspective of Citadines Cebu City (Contributed Photo)

PUBLICLY held Cebu Landmasters, Inc. (CLI) said it is collaborating with international serviced residences operator The Ascott Limited on plans to put up more hotel projects in the Visayas and Mindanao.

Jose Franco Soberano, CLI senior vice-president and chief operating officer, said CLI currently has 800 rooms that will be managed by Ascott.

The company plans to double the number of rooms by 2022.

“We are now Ascott’s biggest owner-developer-partner in the Philippines,” Soberano said in a statement submitted to the Philippine Stock Exchange on Monday, March 4, 2019.

CLI and Ascott have partnership agreements for Citadines Cebu, Davao and Bacolod as well as lyf in Cebu.

Soberano said they will be expanding to General Santos City and Butuan City, both highly urbanized cities in Mindanao, and Ormoc City, Leyte in the Visayas.

“We are expanding our presence to Gensan, Butuan and Ormoc this year. That’s the beauty of Ascott partnering with CLI because we are really spread out in the key growth cities in VisMin,” Soberano says.

Their first project, Citadines Cebu City, is targeted to open this summer. The apartment hotel (apart’hotel) is part of Base Line Center, a residential and lifestyle hub along Juana Osmeña St., Cebu City.

Citadines Cebu offers 180 units of serviced residences that come with a kitchen, separate work and living areas, home entertainment and broadband Internet connection.

The 22-story tower will also feature a swimming pool, fitness center, commercial spaces, dining and retail outlets.

Citadines is one of seven Ascott brands. It is designed for young professionals.

Other Ascott brands are: Ascott, catering to the high-end market; Somerset, popular among executives and their families; The Crest Collection, heritage properties; lyf, a co-living serviced residence concept designed for millennials; Quest Apartment Hotels with locations in Australia, New Zealand, Fiji and UK; and very recently, Tauzia Hotels from Indonesia. The Ascott Group now has over 100,000 rooms globally.

CLI shares closed at P4.17 apiece on March 4, 2019 . (Ventures Cebu)

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