SM Prime Holdings Inc.’s hotel unit aims to double the number of hotels under its portfolio to 10 by 2018. It is set to spend P2.5 billion to tap the fast-paced development of the tourism industry. SM Hotels and Conventions Corporation’s new hotel projects will be in the key regions in the Philippines. Each hotel will be situated beside SM shopping malls under the Radisson Group. SM is also planning to launch its newest convention center in Bacolod in September this year.
Another member of SM Group of Companies, Tagaytay Highlands – a leisure development, marked its 20th anniversary last month.