With vaccinated travel kickstarting from Thailand in July 2021, the light at the end of the tunnel for South-East Asia, including the Philippines, is much brighter and offers a critical boost in hotel owners’ and investors confidence.
According to The Philippines’ Department of Tourism (DOT) plan, fully vaccinated tourists will soon be welcomed into the Philippines without the need for quarantine. This is in line with international borders and restrictions being lifted across the globe; there has never been a better time to get into hotel investment opportunities. According to CBRE recent Intelligence investment report, experienced hotel investors are looking beyond the downturn and adopting a forward-looking view towards investment returns.
Steve Carroll, head of Hotels & Hospitality, Capital Markets, Asia Pacific, says ”Investor sentiment towards hotels has strengthened significantly over the course of this year as the vaccine roll out picks up pace and economic recovery comes into view.”
CBRE expects the regional tourism market to experience phased recovery. This has come into view recently with quarantine-free travel already in place in Thailand, and is expected to expand across other countries in the coming months. With this recovery, CBRE expects to see key markets build on recent strong momentum to lead investment sales volumes over the next few years.
‘We are in an exciting time now as sectors in the travel industry begin to turn its wheels back on; we have been continuously developing and constructing during this time which has kept us on track and to building schedules. Now is the time to invest in property development.” said Gemmalyn Crosby, President, The Pavilions El Nido, Palawan Island.
Located on the pearl of the Philippines, The Pavilions El Nido, Palawan Island is slated to open its doors in 2023. The ten-hectare beachfront estate will feature 96 luxury pool villas, panoramic tropical ocean views, an adventure park, dive centre, waterfalls and adventure walks, Pavilions signature spa & wellness facilities, and unique dining experiences.
Palawan was voted the best island in the world in Travel + Leisure’s World’s Best Awards 2020, scoring 94.83/100 points in an online public vote. Palawan is the largest island of the province of Palawan in the Philippines and the fifth-largest island of the country. It features a UNESCO World Heritage Site and is one of the New7Wonders of the World, The Puerto Princesa Subterranean River National Park.
Investment opportunities are available at The Pavilions El Nido, Palawan Island and start at USD $119,500 for a half share of a One Bedroom Villa.