In light of continuous discussions and involvements in ASEAN, the tourism sector is set to experience rapid growth in 2018. With increase in international arrivals, demand for world-class resort-type developments is seen in the coming years. As the market is becoming more open to international delegations, hotel and hospitality standards must rise. Resort-type developments are expected in areas that already have a footprint in the local tourism. Locations such as Cebu, Davao, and Puerto Princesa, Palawan are areas of growth that the hotel sector must look out for.
Trend Watch: The growing demand for budget hotels
In the past, travel was a luxury, with high cost of airfare and accommodations that go with it. These days, budget traveling is seen as a possibility. Given affordable rates from airline promo flights and the Internet, planning and executing travel itineraries are now at the tip of our thumbs. As more destinations in the Philippines are being identified for leisure and tourism, the need for budget hotels to cater to the travelers market is seen. The “undiscovered” parts of the Philippines are slowly gaining exposure, with the only hurdle for the travelers being accommodations. Hence, investors that are keen on entering and capitalizing the tourism potential of areas now have the option of establishing their own budget hotels. From 2018 to 2020, more budget hotels are expected in fringe and upcoming tourism areas.