SM Hotels to open seven new properties by 2029 

SM Hotels and Convention Corp. (SMHCC), the hospitality arm of SM Prime Holdings Inc. (SM Prime), plans to open seven new hotels by the end of 2029, according to a report by Manila Bulletin.

SM Prime said the move will increase the SM property group’s hotel count from 10 to 17 and boost total room inventory from 2,602 to 3,923, resulting in a 51 percent capacity increase. A majority of the new inventory—969 rooms—is slated for delivery by 2028.

SMHCC’s five-year growth plan, supported by a %u20B110 billion capital expenditure program, will be fully funded through internally generated cash flows.

Six of the new hotels will carry the Park Inn by Radisson brand, while one will be developed under Radisson. The expansion strengthens SMHCC’s position in the midscale and high-end segments while leveraging synergies with SM Prime’s diverse property network.

“This rollout reflects our belief in the long-term potential of the Philippine domestic travel and tourism market,” said SMHCC Executive Vice President Peggy Angeles.

She added that, “We are building on the strength of regional tourism while delivering quality accommodations that enhance the value of our ecosystem of malls, event spaces, and mixed-use developments.”

Only one of the new SM hotels will be in Metro Manila. The rest are strategically distributed in regional growth corridors: Calabarzon (two), Central Luzon (one), Cebu (two), and Laoag (one).

The locations were selected based on tourism potential and integration with existing SM Prime assets.

SMHCC’s hotel portfolio currently includes luxury (Conrad Manila, Radisson Blu Hotel Cebu), leisure (Taal Vista, Pico Sands) and business hotels (Park Inn by Radisson, Lanson Place Mall of Asia).

“Our hotels serve as catalysts for local economic activity. We are focused on creating long-term value—through jobs, tourism flows and sustained growth that enhances SM Prime’s diversified revenue base,” Angeles added.