Quantum to double Philippine portfolio
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Manila-based Quantum Hotels and Resorts has announced plans to double its portfolio of hotels, resorts and residences across the Philippines over the next two years.
Quantum recently opened two new properties; the 75-room Torre Venezia in Quezon City and the 308-room Residences at Fairways and Bluewater in Boracay (pictured). It is also expects to open two more properties in Boracay – the Asiana Condotel and the Agrias Suites – by mid 2009, adding a further 190 hotel rooms to the company’s Boracay portfolio on the resort island of Boracay.
“The resort market in the Philippines continues to grow from domestic tourists as well as new travelers from Korea, Japan and Russia,” said John H. Cole, Quantum’s President and Chief Executive Officer. “It is one of our major focus markets and will represent about 40% of the number of properties we are developing in our regional portfolio by 2010,” he added.
Established in 2000, Quantum Hotels and Resorts was developed to provide mid- to high-level serviced apartments, residences, resorts and hotels. As well as its corporate office in Makati City, Manila, Quantum also has offices in Hong Kong. It regional expansion will also reportedly include Thailand, Vietnam and China.
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