Cebu Real Estate News

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Acquisition of Starwood to Benefit Sheraton

Cebu Sheraton Mactan Resort

APPLEONE Mactan’s flagship branded resort and residences under the Sheraton brand will get a boost following Marriott International Inc.’s acquisition of Starwood Hotels and Resorts Worldwide.

“The (acquisition) has worked to our advantage,” said Ray Go Manigsaca, president of AppleOne Mactan Inc., yesterday.

He said that the merger of the two hospitality management giants will boost exposure of The Sheraton Cebu Mactan Resort and The Residences in the global hospitality spotlight.

Manigsaca noted that the acquisition is advantageous for them, as it will link the new project to both Marriott and Starwood’s marketing platforms. It would also expose the hotel business to a wider database of members across Marriott Rewards, with roughly 50 million members– which includes The Ritz-Carlton Rewards – and Starwood Preferred Guest (SPG) with an estimate of 30 million members.

AppleOne Mactan Inc., a subsidiary of AppleOne Properties Inc., has earmarked P4 billion for the construction of The Sheraton Cebu Mactan Resort and The Residences.

The upscale development that sits on a five-hectare property in Mactan Island is the first branded resort residential development of Sheraton in Southeast Asia.

It will have 250 resort rooms and will be completed by the end of 2019, and 190 residential units expected to be delivered to unit owners by 2020.

AppleOne Mactan officially launched Sheraton Mactan Cebu yesterday.

Sheraton is the second oldest brand under Starwood. The hotel brand has about 435 hotels and 88 resorts present in more than 70 countries worldwide.

Marriott International closed on Sept. 23 its $13 billion acquisition of Starwood, bringing together a total of 30 hotel brands (combined) under the Marriott umbrella to create the largest hotel chain in the world, with more than 5,800 properties and 1.1 million rooms in more than 110 countries.

With the completion of the acquisition, Marriott’s distribution has more than doubled in Asia and the Middle East and Africa combined.

“We believe that Marriott now has the world’s best portfolio of hotel brands, the most comprehensive global footprint, and the most extensive loyalty programs, providing an unparalleled guest experience. Combining Starwood’s brands with ours better enables Marriott to reach our goal of having the right brand in the right place to serve our loyal guests and welcome new ones,” said Arne Sorenson, president and chief executive officer of Marriott International, in a disclosure.

After Sheraton Mactan Cebu, Manigsaca said his company is actively scouting for more locations in Cebu. He said he is planning to develop a “partially similar” project that will have a hotel component attached to either a residential or an entertainment facility.
By Katlene O. Cacho | Sun Star Cebu | October 7, 2016

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