SM ramps up hotel development

SM Prime Holdings Inc. is aggressively expanding its hospitality portfolio with seven new hotel projects that will add over 1,300 rooms to be completed by the end of 2029.

- By RICHMOND MERCURIO

The expansion will raise SM Hotels and Convention Corp. (SMHCC)'s hotel count to 17 from 10 and boost total room inventory to 3,923 from 2,602.

SM Prime said that a majority of the new inventory, or 969 rooms, would be for delivery by 2028.

The company said that six of the new hotels would carry the Park Inn by Radisson brand, while one will be developed under Radisson.