SM hospitality arm allots P10B capex to expand hotel portfolio

SM Hotels and Convention Corp. (SMHCC), the hospitality subsidiary of property giant SM Prime Holdings Inc., is strengthening its footprint in Cebu as part of a broader national expansion plan that will add seven new hotels to its portfolio by the end of 2029.

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In a disclosure to Philippine Stock Exchange (PSE) the company disclosed that rollout includes two new properties in Cebu—positioning the province as a key hub in SMHCC’s P10 billion capital expenditure program.

These developments are expected to tap into the region’s robust tourism market while leveraging synergies with SM Prime’s integrated mall and commercial assets in the Visayas.

“This expansion underscores our confidence in regional growth centers like Cebu,” said Peggy Angeles, Executive Vice President of SMHCC.

“We are building where we see long-term demand, strong tourism fundamentals, and alignment with SM’s existing ecosystem,” Angeles noted.