The move expands the Philippine property giant beyond retail and deepens its long-term presence in Xiamen, where it opened its first mall 25 years ago.
“voco Xiamen SM City is our first hotel in China and it connects directly to SM City Xiamen, the first property we opened in the country 25 years ago,” explained SM Prime president Jeffrey C. Lim.
“With this investment, we are turning the complex into a complete lifestyle destination for tourists.”
First hotel in China
The RMB450 million (about P4 billion) voco Xiamen SM City opened in June with 325 rooms and direct access to SM City Xiamen.
Located beside Wushipu Station on Metro Line 1, the hotel is about 15 minutes from both Xiamen Gaoqi International Airport and Xiamen Railway Station, making it accessible to business and leisure travelers.
Riding tourism growth
The expansion comes as China ramps up support for tourism as a driver of economic growth.
The World Travel & Tourism Council expects the sector to nearly double from $1.8 trillion in 2025 to $3.5 trillion by 2036, while the State Council has approved a five-year tourism development plan through 2030 focused on improving services, expanding tourism offerings, boosting consumption and strengthening international cooperation.
Why Xiamen
The investment also underscores Xiamen’s growing importance as a tourism and commercial hub.
The Fujian city is home to the world’s 15th-largest container port, one of China’s four major international shipping centers, and a growing collection of UNESCO heritage attractions and Michelin-recognized restaurants that are attracting younger travelers seeking short breaks and culinary experiences. —Ed: Corrie S. Narisma
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
