SM Prime Allots P5.3B to Expand MICE Footprint

Integrated property developer SM Prime Holdings Inc. has mapped out a P5.3-billion investment plan over the next five years to ramp up its footprint in the meetings, incentives, conferences, and exhibitions (MICE) industry.

- — Richmond Mercurio

SM Prime's hospitality arm, SM Hotels and Convention Corp. (SMHCC), will begin its expansion plan with two major developments in Cebu and Pasay.

SMHCC executive vice president Peggy Angeles said the company's expansion into Cebu and Pasay reflects its strong belief in the potential of these cities.

"By building next-generation venues with scale and flexibility, we are enabling more communities to benefit from the business and tourism opportunities that MICE events bring," Angeles said.