Ayala rolls out Kukun hotels

Brian Higgs, Singapore, HICAP UPDATE


FILIPINO real estate developer Ayala Land is hastening its foray into tourism business through the introduction of a new hotel brand, Kukun, which is targeted chiefly at business travellers.

Derived from the word 'cocoon', Kukun hotels will be self-managed by Ayala. Each property will be situated adjacent to a shopping mall development also operated by the group—to capitalise on efficiencies, according to Ayala Land senior vice president, Junie Jalandoni.

“Kukun is what we call an urban lifestylfe brand, and is in the three- to four-star category. We don’t want to compete with the large international brands in the five-star segment,” he explained, adding that average room rates for Kukun would be about US$100 per night.

Ayala currently has four Kukuns in the pipeline—one scheduled to open in Fort Bonifacio in 3Q2012, one each in Davao and Cagayan de Oro, Alabang in 4Q2012, and the last in Nuvali, Santa Rosa, Laguna by middle of next year. Each will offer about 150-200 rooms and a single F&B outlet.

Ayala, which owns the InterContinental Manila and the Cebu City Marriott Hotel, will also be opening the 347-room Holiday Inn & Suites Makati in 1Q2013.




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Cebu exporters set to establish desk for China

Fred T. Escalona, Cebu executive director of the Confederation of Philippine Exporters Foundation (Cebu), Inc. (Philexport), said the planned desk will help its members who have been affected by the debt crisis in Europe and economic slowdown in the US.

"We’ve always looked at China as our competitor. Now, we should view it as another big market," he said, noting that China has $3 trillion in reserves and is producing more billionaires than the US.

Instead of competing with China in manufacturing cheap goods, Mr. Escalona said Cebu exporters should position themselves as producers of mid- to high-end products.

To prevent counterfeiting, a common complaint of Philippine fashion accessories and furniture manufacturers, exporters here should constantly generate new designs at a faster clip, added Mr. Escalona.

www.bworldonline.com

Philippine Stocks Movers: Cebu Air, Jollibee Foods, SM Prime

Shares of the following companies had unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the midday break in Manila.

The Philippine Stock Exchange Index rose 1 percent to 5,079.35, set to close at a record. The gauge has advanced 2 percent this week.

Consumer-related stocks: Jollibee Foods Corp. (JFC) , the nation’s biggest restaurant operator, advanced to a record, leading gains among Philippine consumer-related stocks on speculation consumer spending will grow after funds sent home by Filipinos overseas increased 5.4 percent in January. Jollibee rose 5.8 percent to 111.50 pesos, set for the highest close since the stock began trading in July 1993. SM Prime Holdings Inc. (SMPH) , the country’s biggest shopping mall operator, climbed 2.7 percent to 16.76 pesos.

“Higher remittances translate to stronger consumer spending,” Peter Lee, senior investment officer at IGC Securities Inc., said in a phone interview. “Jollibee is recognized as one of the market’s top consumer names.”

Cebu Air Inc. (CEB PM), the nation’s largest budget carrier, gained 1.7 percent to 67.10 pesos, set for the sharpest increase since March 5. The company may consider buying into Philippine Airlines Inc., the country’s biggest carrier, “if the opportunity arose,” Cebu Air President Lance Gokongwei said. Gokongwei said there are no talks with Philippine Airlines. PAL Holdings Inc. (PAL) , owner of Philippine Airlines, rose 5.3 percent to 7.42 pesos, bound for the sharpest gain since Jan. 9.

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Cebu to vie for top spot in 7 Wonders Cities of the World

CEBU – Cebu City may become even more popular among local and foreign tourists and may just land in the list of the New 7 Wonders Cities next year.

That is, if it can get enough votes to compete with big cities like New York, Paris and Tokyo.


As of Wednesday, Cebu City ranks second among 44 cities in Southeast Asia and Oceania in the search involving some 1,200 cities from 220 countries.


The search and online voting is being facilitated by the New7Wonders, the same group behind the man-made New 7 Wonders of the World and the New 7 Wonders of Nature.


Although it was the first time they heard about the search, officials of the Department of Tourism (DOT) Central Visayas, Cebu City Government and the Cebu Investment and Promotions Center (CIPC) welcomed the nomination.


“Just to be nominated, it would already help promote Cebu City as a tourist destination. Cebu City is different from other cities because for one, it is the seat of Christianity of the Philippines and despite being a highly urbanized city, Cebu City is able to preserve its past, its culture and heritage,” DOT Regional Director Rowena Montecillo said.


The CIPC and Cebu City Tourism Commission (CCTC) chairperson and Councilor Margarita Osmena also count the South Road Properties and the construction boom as contributors to Cebu City’s “wonders”.
The list of Wonders Cities in Southeast Asia is dominated by Philippine cities, with Vigan in Ilocos Sur topping the list, followed by the cities of Cebu, Davao, Iloilo, Cagayan de Oro, Bacolod and Paranaque.
On the eighth spot is Sydney, followed by Singapore and Bangkok.


Montecillo said the DOT-Central Visayas will support the campaign to help make Cebu City one of the finalists.


The global online voting started last January with some 1,200 nominees from 220 countries. More than 300 cities will be chosen for the qualification phase (one from each country and the top 77 cities with the most number of votes).


From the top 77 voted during the qualification phase, the New7Wonders Cities panel of experts advises on the selection of the 28 official finalists. Voting for the finalists continues across three phases until 2013. The Official New7Wonders Cities will be announced on December 7, 2013.


www.philcebuproperties.com