MANILA – Rizal Commercial Banking Corporation (“RCBC”) has extended a P1.5 billion loan to Red Planet Hotels, to complete the construction of 3 new hotels in Metro Manila. With the opening of the 3 new hotels in early 2018, Red Planet will continue to solidify its position as the largest and fastest-growing pan-Asia value hotel chain. With the new openings, Red Planet will own and operate 13 hotels in the Philippines, of which 9 will be in Metro Manila. A further 5 hotels are presently under construction in the Philippines, which will grow Red Planet’s portfolio to 18 hotels by the end of 2018.
Red Planet Manila Bay is a 150-room property conveniently located across the U.S Embassy in Ermita, a short distance from Ninoy Aquino International Airport. The hotel is well situated for Manila’s burgeoning inbound tourist arrivals seeking to take in the sights of Old Manila and Intramuros, as well as Manila Bay’s famous sunset. The hotel is also proximate to a number of government agencies and corporate offices.
Red Planet Binondo is a 170-room property located within Manila’s famous Chinatown Business District, a few minutes’ walk from the districts shopping malls and bustling wholesale markets.
Red Planet Aurora Boulevard is a 167-room property located in Quezon City, near to the Araneta Center and other cultural venues. The hotel is located adjacent to Cubao’s busy shopping and dining scene, and proximate to the Cubao Expo.
All 3 properties feature the latest Red Planet Hotels standards - bright, modern and innovative lobbies, with a bank of Apple computers for free guest-use, the “Info Wall” containing everything guests need to know about what is happening around the hotels, and the “Photo-me” screen enabling guests to take selfies to be shared on Social Media platforms. All rooms provide free high-speed Wi-Fi, power shower, quality custom made beds, and many other features including air conditioning, a workstation, an in-room safe, hair dryer, refrigerators, and a 40-inch flat screen TV.
Red Planet owns and operates 26 hotels in 4 countries, with a focus on comfort, convenience, and style - all with an affordable price tag. The tech-savvy value-hotel chain continues to pioneer with its best-in-class app featuring an “In-Stay Mode”, augmenting guests’ stay experience by enabling them to chat directly with the hotel front desk, look for local attractions, and enjoy discounts in more than 200 restaurants located near Red Planet Hotels.
RCBC’s loan will bring the number of Red Planet assets financed by the bank to 6, with the new hotels joining Red Planet’s Davao, Ortigas, and Amorsolo-Makati hotels.
On the occasion of the loan facility signing, Red Planet Chief Executive Officer, Tim Hansing, said “travel and tourism to and within the Philippines, for an increasingly mobile domestic market and international visitors, are showing phenomenal growth. The opening of these 3 hotels further consolidates Red Planet’s position as the value hotel leader in the country.”
“Red Planet has only been operating in the Philippines for 5 years but we already have 10 hugely successful hotels operating, spread across the Philippines”, Mr Hansing added.
RCBC’s Executive Vice President, Michael O. De Jesus said “RCBC is pleased to extend this loan to Red Planet Hotels. Indeed, we are encouraged by the positive dynamics of the travel and leisure sector in the Philippines and believe that Red Planet Hotels is well positioned to benefit from the industry’s growth impetus. The travel industry as a whole is a substantial economic multiplier, and the benefits to both the national and local economies in the Philippines are direct and long-lasting. Further, the value hotel model is a defensive one, with low operating costs and high margins, yet with enormous growth momentum”.