Despite the downturn tourists have flocked to the Philippines in greater numbers this year, boosting the country’s burgeoning resort sector.
Over the first quarter of 2009 tourist arrivals to the South East Asian island nation rose by a staggering 51 percent to 1.3 million people compared to 858,244 during the same period last year, according to the Philippines Department of Tourism (PDoT).
Growing demand has led to a shortage of the best accommodation, increasing occupancy rates and resort yields. Commenting on the PDoT’s figures, the director of the Hotel and Restaurant Association of the Philippines, Rene C. Baltasar, has been reported to have said the country was getting up-market tourists but there was a lack of rooms compared to its regional rivals.
John Scott, from hotel investment specialist Asset Property Brokers, said: “Philippines tourism is doing extremely well thanks to a combination of attractive locations, culture and climate, and value that undercuts rivals.
“This together with a restricted supply of high-quality accommodation ensures high occupancy rates and yields for well managed resorts with the right facilities and location.”
Cebu was the most popular destination accounting for 32 percent of tourists, the PDoT reported.
Asset Property Brokers has properties available at Blue Coral Resort and Spa, Mactan Island, within 30 minutes of Cebu airport, the country’s second busiest airport. Among many attractions the island boasts reef diving, golf and powder white sand beaches.
Developing the Blue Coral Resort and Spa is Paradisya Land, one of the Philippines’ leading developers. The firm has a highly successful track record in creating major new tourist destinations.
The resort, managed by Continent Hotel and Resorts, has secured a major five-year booking with top South East Asian tour operator, Oriental Spirit Travel & Tours Corp, a subsidiary of Hyundai and Samsung.
Blue Coral Resort offers a guaranteed 80 percent occupancy level, on a rolling five year contract, providing returns of 14.4 percent to 20.9 percent, depending on the property type. Guaranteed 60 percent non-status developer finance is available.