SM Hotels bets P15B on expansion as travel, events boom

SM Hotels and Convention Corp. (SMHCC) is betting big on the hospitality rebound, committing P15 billion to expand its portfolio over the next five years. The investment will fund eight new hotels and two convention centers, adding over 1,500 guest rooms to its current lineup.

Peggy E. Angeles

SM Hotels and Convention Corp. executive vice president

Strong travel demand and a booming events sector have fueled this expansion. In 2024, SM hotels posted a 67-percent occupancy rate, with its Metro Manila properties leading at 71 percent, outpacing the 61 percent industry average. 

SMX Convention Centers also hosted 15 percent more events, drawing 6.3 million visitors—a clear sign of sustained recovery.

Management’s view 

“The rise in hotel stays and event bookings signals a vibrant rebound for the hospitality and MICE sectors,” said Peggy E. Angeles, executive vice president of SMHCC.

Beyond new developments, SMHCC is upgrading key properties, enhancing function rooms, expanding food and beverage outlets, and renovating hotels like Taal Vista, Pico Sands, and Park Inn Davao.  

With a portfolio of 10 hotels and eight convention centers, SMHCC is positioning itself for long-term growth, capitalizing on the country’s rising tourism and corporate event demand.