With its partner Travellers International Hotel Group, Hotel Okura agreed to manage a new resort in Manila, Philippines. The 191-room Hotel Okura Manila is slated to open in 2018.
Near Manila’s Ninoy Aquino International Airport, the new hotel will be developed within Resorts World Manila, TIHGI's integrated resort. The property will also be close to Manila’s business and leisure centers in Makati City, the country's financial district.
The growing economic stability for the country has attracted this latest investment from Hotel Okura. The new hotel will also be completed to accommodate the Philippine Department of Tourism’s target tourist number for 2022. The department aims to attract more than 12 million foreign tourists, especially through infrastructure investment.
“For the past five years, the Philippines has experienced high economic growth surpassing 6 percent per annum, and its tourism market is expected to achieve mid- to long-term growth,” Toshihiro Ogita, president of Hotel Okura, said in a statement.
Hotel Okura Manila is the second of the brand to be added in Manila's pipeline. The first—Hotel Okura Manila Bayshore—is being developed with 380 guestrooms as part of Bayshore City Resorts World on Manila Bay in the City of Parañaque. It is scheduled for completion in 2020.
Both hotels are part of the group's plan to expand its global portfolio to 100 properties, primarily in Asia. The current development pipeline has 11 projects, which are all set to open by 2020. The properties will operate under one of three hotel groups—Okura Hotels & Resorts, Nikko Hotels International or Hotel JAL City—while Hotel Okura subsidiary Okura Nikko Hotel Management will manage them.