In continuation to previous article ‘What is Condo Investing’, Megaworld offers another investment option. The property giant is building its fourth Belmont Hotel inside its 72-hectare Iloilo Business Park township in Mandurriao, Iloilo City. The fourth hotel under Megaworld’s homegrown Belmont brand will add 405 hotel rooms in Iloilo City. Belmont Hotel Iloilo will have 405 suites, composed of a mix of Twin Suites, Queen Suites, Junior Suites, Executive Suites and Specially-Abled Suites for Persons with Disabilities. Related article: What is Condo Investing?
Why invest in Iloilo? According to the Iloilo City Tourism Office, tourist arrivals in the city have remarkably increased during the past five years. In 2017, around 1.08 million local and foreign tourists visited Iloilo City. Most foreign visitors came from South Korea, US, Canada, Mexico and Australia.Iloilo, by far, has a huge potential as a tourism destination. With the Iloilo Convention Center as a main facility for Meetings, Incentives, Conventions and Exhibitions, Iloilo City indeed needs another world-class hotel. In Iloilo Business Park, Megaworld opened its third Richmonde Hotel in 2014 and its sister company Travelers International Hotels Group, Inc., owner and operator of Resorts World Manila, opened the Courtyard by Marriott early this year.
Why invest in Belmont Hotel? Belmont Hotel Manila, Megaworld’s first Belmont Hotel that opened in Newport City, was awarded this year’s Best Airport Hotel in the 2018 Travel and Hospitality Awards. The second Belmont Hotel is set to open in Boracay Newcoast next year, while the third one will be at The Mactan Newtown, the company’s 30-hectare township in Lapu-Lapu City, Cebu. The 12-storey hotel, which is the third in the entire township, will be located along the stretch of the 1.1-kilometer long Festive Walk Parade, just a walking distance to the iconic Iloilo Convention Center and the Festive Walk Mall. It will have its own swimming pool with in-pool lounge, landscaped deck with pool bar and outdoor lounge, fitness center with sauna, function room, and an all-day dining restaurant.
Investing in Belmont Hotel. Investors can own units but it will be immediately leased by the Hotel Operator, and unit will be used as a hotel suite. This is essentially better compared to condo investing where investors directly market and manage. Also, investor profit will be based on the actual annual profit of Belmont Hotel. For more information about profit, click here for a sample statement of rental income. Investors will be given a certificate of condominium title, a tangible asset that appreciates like all properties in Iloilo Business Park. Also, bookkeeping is handled by a reputable third party auditing firm, Punongbayan and Araullo. Belmont Hotel investors also get privilege use of unit as hotel guest for a finite number of times every year. Related article: Megaworld: Iloilos Finest Condominiums
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