case study - raffles makati

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Philippines Tourism Investment Conference London 9 November 2010

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Presented on 9 November 2010 at the Philippine Tourism Investment Forum by Susannah Donne, Director - Global Sales, Europe, Fairmont Raffles Hotels International, on behalf of James Kaplan, SVP - Development, Fairmont Raffles Hotels International

TRANSCRIPT

Page 1: Case Study - Raffles Makati

Philippines Tourism Investment ConferenceLondon

9 November 2010

Page 2: Case Study - Raffles Makati

2

Outline

Raffles Hotels & Resorts

The Project

Raffles Makati

Fairmont Makati

Makati – The Market

Target Audience

Future plans in The Philippines

Development Pipeline in Asia

Page 3: Case Study - Raffles Makati

The Raffles Brand

Raffles is a global luxury hotel management company which traces its roots back to 1887 with the opening of the acclaimed Raffles Hotel in Singapore.

Through the years, Raffles has journeyed from a fabled past to the highest echelon of the hospitality industry.

Today, Raffles Hotels & Resorts is known to create enchanting experiences through providing gracious and heartfelt service in a sophisticated residential environment.

Page 4: Case Study - Raffles Makati

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History

Raffles Hotel opened on Beach Road under the management of Tigran Sarkies, offering 10 rooms in an old bungalow-style building

Raffles International Limited was formed as the hotel management arm of Raffles Holdings Limited

1887 1989

1991

Raffles Hotel, Singapore reopened on 16 September after a complete restoration

Expands footprints to open two landmark hotels in Cambodia - Hotel Le Royal, Phnom Penh and Grand Hotel d’Angkor, Siem Reap

1997

First hotel in China - Raffles Beijing opened in June

Expands into Middle East – Raffles Dubai opened in November

2007

2010

onwards

Raffles continues to open more hotels and resorts in key cities around the world including Seychelles, Makati, Moscow and Jakarta

2006

Raffles opened Tianjin in March and 2 other hotels in Makkah and Paris in August and October respectively

Page 5: Case Study - Raffles Makati

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Raffles Hotels & Resorts

Number of Hotels & Resorts:

8 in operation5 under development

Average size: Urban 150 to 250 roomsResort 100 to 180 rooms

Market Segments:

Luxury tierBusiness Transient

Competitive brands:

The PeninsulaFour SeasonsMandarin OrientalOne & Only

Raffles Brand Average RevPar

120% Significantly outperforming its luxury competitive set

Page 6: Case Study - Raffles Makati

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Global Portfolio

Dubai

Beijing

Siem Reap

Phnom Penh

Singapore

Manila

Tianjin

Paris

Jakarta

Moscow

Sanya

Seychelles

▲▲

Makkah

▲▲

Under development▲

In operation

Current portfolio: Raffles Hotel, Singapore Raffles Beijing Hotel, China Raffles Grand Hotel d’Angkor, Siem

Reap Raffles Hotel Le Royal, Phnom Penh Raffles Dubai, UAE Raffles Tianjin, China Raffles Makkah Palace, Saudi Arabia Raffles Paris – Le Royal Monceau

Future additions: Raffles Praslin, Seychelles Raffles Makati, The Philippines Raffles Sanya, China Raffles Jakarta, Indonesia

Page 7: Case Study - Raffles Makati

12

Outline

Raffles Hotels & Resorts

The Project

Raffles Makati

Fairmont Makati

Makati – The Market

Target Audience

Future plans in The Philippines

Development Pipeline in Asia

Page 8: Case Study - Raffles Makati

A joint venture between Kingdom Hotel Investments (KHI) (80%) and Ayala Land, Inc (Ayala Land) (20%).

The 30-storey complex occupies 7,377 sqm of prime freehold land on Makati Avenue.

The development will comprise a 300-room Fairmont Hotel, a 30-suite Raffles hotel and 239 Raffles-branded private residences.

The Project

Page 9: Case Study - Raffles Makati

Raffles Makati

Fairmont Makati

Page 10: Case Study - Raffles Makati

Located on Makati Avenue in the financial and cultural hub of the Makati District – often called the ‘Wall Street of the Philippines’ it is home to the Makati Stock Exchange and the Makati Business Club.

Situated directly across from the Greenbelt Mall, one of the most celebrated malls in all of Asia.

Raffles & Fairmont

Makati

Location

Page 11: Case Study - Raffles Makati

Raffles and Fairmont will have two separate entrances and lobby lounges, creating two distinct arrival experiences.

Raffles30 suites and 239 Raffles Residences Approximate size of guest rooms is 60 sqm

Fairmont300 guestrooms including 51 Fairmont Gold rooms and 8 suitesApproximate size of guest rooms is 40 sqm

Raffles and Fairmont Makati

Page 12: Case Study - Raffles Makati

First significant luxury branded residence in Makati

Opening in 2011, poised to become the premier address in Manila, with the first branded penthouse residences.

Creating a Legend – Raffles Makati

Page 13: Case Study - Raffles Makati

In July this year, a Raffles penthouse was sold at the highest price per square metre ever paid for a condominium in the Philippines.

A spokesperson for the buyer commented,“My client’s global portfolio consists of prestigious projects in several cities. This purchase was influenced by the fact that this development is the best project in Manila, both in terms of build quality and service levels that the Raffles brand is synonymous with.”

Colliers International, Philippines, “This sale is reflective of continued confidence in this market, and an appreciation by buyers, both local and international, of premium and branded product. Raffles Residences has certainly set the standards for the local, ultra-luxury residential market, and we expect this trend to continue with surging demand for branded residences.”

Raffles Residences – Record Sale Price

Page 14: Case Study - Raffles Makati

An elegant Raffles Lobby Lounge Refined Japanese restaurant

The Long Bar, featuring live jazz

An all-day dining restaurant

Designer boutiques and shops in the retail mall

Raffles Makati – Facilities & Amenities

Page 15: Case Study - Raffles Makati

24-hour concierge service

24-hour signature Raffles Butler service

Raffles Makati - Services

Page 16: Case Study - Raffles Makati

Hotel Lobby

Page 17: Case Study - Raffles Makati

Typical Guest Room

Page 18: Case Study - Raffles Makati

Deluxe Suite – Living room

Page 19: Case Study - Raffles Makati

Presidential Suite

Page 20: Case Study - Raffles Makati

Raffles Lounge

Page 21: Case Study - Raffles Makati

All Day Dining

Page 22: Case Study - Raffles Makati

Long Bar

Page 23: Case Study - Raffles Makati

Swimming Pool

Page 24: Case Study - Raffles Makati

Raffles Residences - Master Bedroom

Page 25: Case Study - Raffles Makati

Raffles Residences - Living Room

Page 26: Case Study - Raffles Makati

Raffles Residences - Kitchen

Page 27: Case Study - Raffles Makati

Raffles Residences - Bathroom

Page 28: Case Study - Raffles Makati
Page 29: Case Study - Raffles Makati

Fairmont Makati offers additional facilties including:

Spa and Fitness Willow Stream Spa State-of-the-art Fitness Center Separate outdoor swimming pool and terrace for each brand

Meeting & Function Facilties 20,000 square feet of combined meeting & banquet space Shared amenities Full service business center

Fairmont Gold Private Gold floors with an exclusive lounge

Fairmont Makati

Page 30: Case Study - Raffles Makati

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Outline

Raffles Hotels & Resorts

The Project

Raffles Makati

Fairmont Makati

Makati – The Market

Target Audience

Future plans in The Philippines

Development Pipeline in Asia

Page 31: Case Study - Raffles Makati

Makati is one of the 16 cities that make up Metro Manila, one of the most populous metropolitan areas in the world.

The financial center of the Philippines and one of the major financial, commercial and economic hubs in Asia.

As the host of various embassies, it is also an important center for international affairs.

No new hotel room supply since 2002 or anticipated at this time.

Present luxury brands in this market are Shangri-La, Peninsula, Mandarin Oriental.

Significant gains in ADR/RevPAR were made since beginning 2006.

Makati City

Page 32: Case Study - Raffles Makati

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Outline

Raffles Hotels & Resorts

The Project

Raffles Makati

Fairmont Makati

Makati – The Market

Target Audience

Future plans in The Philippines

Development Pipeline in Asia

Page 33: Case Study - Raffles Makati

Raffles Makati Fairmont Makati

Market Mix:

41% Transient Individuals36% Corporate Travellers13% Group Meetings and Incentives10% Leisure and Wholesale

Market Mix:

61% Transient Individuals 16% Corporate Travellers19% Group Meetings and Incentives4 % Leisure and Wholesale

Competitive Set:

Peninsula ManilaMandarin Oriental, Manila

Competitive Set:

Makati Shangri-la, ManilaInterContinental ManilaRenaissance Makati City

Target Audience

Page 34: Case Study - Raffles Makati

39

Outline

Raffles Hotels & Resorts

The Project

Raffles Makati

Fairmont Makati

Makati – The Market

Target Audience

Future plans in The Philippines

Development Pipeline in Asia

Page 35: Case Study - Raffles Makati

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The Philippines’ national economy is one of the 50 largest in the world.

The Republic continues to experience positive GDP growth and attracts foreign investment and tourism.

FRHI seeks development opportunities in Cebu for a Fairmont resort and Manila for a Swissôtel.

Future Development Plans in The Philippines

Page 36: Case Study - Raffles Makati

41

Outline

Raffles Hotels & Resorts

The Project

Raffles Makati

Fairmont Makati

Makati – The Market

Target Audience

Future plans in The Philippines

Development Pipeline in Asia

Page 37: Case Study - Raffles Makati

42 Note: Status as of July 2010

Existing Fairmont (62 hotels)

Existing Raffles (6 hotels)

Existing Swissôtel (28 hotels)

Current Global Portfolio

Page 38: Case Study - Raffles Makati

FRHI will add 55 properties by 2014 mainly outside of the Americas

43Note: Status as of July 2010

Pipeline Fairmont (26 hotels)

Pipeline Raffles (18 hotels)

Pipeline Swissôtel (11 hotels)

Existing Fairmont (62 hotels)

Existing Raffles (6 hotels)

Existing Swissôtel (28 hotels)

Development Pipeline - Global

Page 39: Case Study - Raffles Makati

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Raffles

Future openings: Sanya, Jakarta

Actively looking at projects in Bali, Kular Lumpur, Shanghai, India and Thailand.

Fairmont

Future openings: Sanya, Jaipur and Hyderabad, India

Pending projects in Jakarta, Bali and several major cities in China and India.

Swissotel

Newly opened in Kolkata this year

Future projects include many new openings in India and China

Development Pipeline - Asia

Page 40: Case Study - Raffles Makati