THE PHILIPPINE hotel industry hopes to bridge the 120,463-room gap by 2028 to meet the 456,055-room demand.
The room supply currently stands at 335,592, according to the Philippine Hotel Industry Strategic Action Plan (PHISAP) 2023-2028, launched by the Department of Tourism (DoT) and the Philippine Hotel Owners Association, Inc. (PHOA) on Wednesday.
The roadmap aims to boost competitiveness, promote sustainable development, and support the expansion of the hotel sector.
“Our government is laying the groundwork to establish green lanes for strategic investments aimed at fast-tracking critical infrastructure projects, including those in tourism,” Tourism Secretary Ma. Esperanza Christina G. Frasco said during the launch.
Green lanes in government offices expedite permits and licenses for critical investment projects.
This is “coupled with an improved PPP (Public-Private-Partnership) law, as well as an expanded CREATE (Corporate Recovery and Tax Incentives for Enterprises) law and public-private partnerships to enhance airport facilities and improve transport services,” Ms. Frasco added.
The CREATE MORE bill seeks to impose a 20% corporate income tax on local and foreign corporations under the enhanced deduction income tax regime.
Ms. Frasco added that the DoT continues to work with local government units to stress the necessity of creating a business-friendly environment for investments.
“We’re hopeful that we will be able to address this gap by way of the PHISAP, on one hand, which is a framework for hotel infrastructure development, as well as all the supporting legislation and policies of the Marcos administration that encourage investment, as well as public-private partnerships,” she said.
Leechiu Property Consultants, Inc. (LPC) said in its third-quarter report that the Philippines is expected to surpass 2023’s foreign arrival numbers of 5.5 million but fall short of the 7.7 million target for this year.
LPC said the foreign tourist arrivals reached 4.4 million in the first three quarters of 2024, up from four million in the same period last year.
According to the 2024 Philippine Accommodation Pipeline Report by PHOA and LPC, private sector hotel developers have committed to 158 new accommodation projects, totaling 40,084 rooms and generating P250 billion in investments. — Aubrey Rose A. Inosante