MANILA: Global hotel brands are helping Manila add a record number of rooms this year, lured by the growth prospects of its emerging gaming scene. That will boost the underperforming Philippine tourism sector, although other infrastructure is needed before it can really take off.
First-timers in the Philippines, Accor Group’s Novotel and MGallery, Hilton Worldwide’s Conrad and Wyndham Worldwide Corp’s Tryp will be contributing to the majority of the 4,612 rooms opening in Manila this year.
That number is more than double the rooms added last year and four times the average increase in the last four years, according to Colliers International Philippines.
Manila is one of the most active locations in the region in new hotel openings, said Romeo Arahan, a research analyst at the real estate services firm.
Room additions are expected to exceed 3,500 annually in the next two years, mostly in Manila’s integrated resorts. The new rooms will help plug Manila’s chronic shortage of quality accommodation.
The imminent entry of Genting Singapore’s Crockfords Tower, Fairmont Hotels & Resorts’ Savoy and Hotel Okura’s flagship brand will also help draw visitors accustomed to luxury travel.
Still, having more hotel rooms does not solve everything.
The archipelago nation suffers from a lack of airports to serve travelers hopping from island to island. Official data shows the country’s 2014 foreign tourist arrivals were slightly below a target of 5 million, already low by Southeast Asian standards.
An uptick in Chinese visitors was capped by a territorial dispute with the Philippines. The government expects overall visitors to reach 6 million in 2015.
Aileen Clemente, president of the Federation of Tourism Industries of the Philippines, said she expects 10 million foreign visitors next year, sticking to a target set by the government.
“Attracting tourists is a problem because you have a government that is very ambitious in targets but infrastructure is insufficient to accommodate the targets,” Colliers’ Arahan said.
Hotel boom in Manila offers hope to Philippine tourism
Hotel boom in Manila offers hope to Philippine tourism
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
