Double expansion for Quantam hotels in Philippines

Philippines News.Net
Saturday 22nd November, 2008

Quantum Hotels and Resorts, announced Friday the completion of a two year double expansion of its hotel and resort properties across the Philippines.

This expansion makes the Philippines a key component in its overall plans to more than double its current portfolio in Asia Pacific over the next years.

Quantum recently opened two new properties, the Torre Venezia in Quezon City and The Residences at Fairways and Bluewater in Boracay Island, both in the Philippines. It is also expected to open two more properties in Boracay Island, Philippines which is the Asiana Condotel and the Agrias Suites by mid 2009 adding more than 190 hotel rooms to the companies existing portfolio on the resort island of Boracay. The group currently manages four other hotel condominium properties in Metro Manila.

“The resort market in the Philippines continues to grow from domestic tourists as well as new travelers from Korea, Japan and Russia. It is one of our major focus markets and will represent about 40% of the number of properties we are developing in our regional portfolio by 2010,” Quantam John H. Cole, President and CEO, said Friday.

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