With the easing of restrictions and continuous lowering of cases, borders are reopening for travelers and tourism is expected to pick up once again. Locally, this is a welcome development as many Filipinos are eager to go on their much-awaited vacation while the local tourism industry is looking forward to business picking up. This also presents a good investment opportunity, especially in the real estate and luxury homestay business.
According to diversified professional services and investment management company Collier’s research, Hospitality Insights Hotels & Leisure – Asia for Q1 2022, it looks like a rebound is going to happen in hospitality and leisure this year. Globally, the group has seen markets where hoteliers are already back to their pre-health crisis rates.
There is even a possibility of ‘revenge travel’ among domestic travelers that can push hotel occupancies and increase vacancies. ‘Revenge travel’ has been a term used in the west to describe how people are eager to travel post-health crisis and are likely to go to an exotic destination and spend more money on the trip. This is because they are tired of being cooped up at home for so long and have saved up for the time they can finally go out. The report has also noted that guests may be looking for something luxurious and will be willing to pay more for exclusivity and privacy.
Apart from an increase in domestic travelers, the Department of Tourism has also noted over 70,000 tourist arrivals since borders reopened in February. This number is expected to rise even further as the department eyes opening the country to all foreigners by April.
These projections appear favorable to assets such as Aruga Apartments. Situated in Makati City’s Rockwell Center, these serviced apartments have been home to every kind of traveler since 2014 – from the solo globetrotters to the vacationing families. In 2020, the property reopened its doors for short-term luxury homestays and quarantine bookings in 2021. These changes allowed unit owner investors to experience optimistic yields even at the height of restrictions and about a five percent average yield in 2021. It also saw an increase in leisure and corporate bookings, something that can be attributed to its prime location.
There are a variety of units ranging from studio to two-bedroom suite accommodations, with sizes from 35 to 66 square meters, fully furnished in the Asian Contemporary style and complete with Rockwell’s signature of sophisticated interior design and quality finishes. Amenities include a pool, fitness gym, and function rooms.
As the summer months officially take over the country, people are anticipating the return of things they have enjoyed previously, or at least a new normal where they can travel and vacation properly.
Aruga Apartments’ well-appointed living spaces and amenities, plus its location and proximity to lifestyle hubs and corporate offices, make it a worthwhile investment to consider whether as your new address in Makati or as an asset that can take advantage of the comeback of tourism.
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