AppleOne Properties signs second management contract with Marriott
CEBU-BASED developer AppleOne Properties Inc. (API) has signed a management contract with Marriott International (MI) to develop the first Fairfield Inn & Suites in the region.
Fairfield Cebu Mactan will be located within Mahi by AppleOne Properties Inc., a forthcoming IT center set to rise along ML Quezon National Highway in Barangay Ibo, Lapu-Lapu City.
The property will have 198 rooms and an area of 10,950 square meters spread throughout seven floors.
The Fairfield Inn & Suites brand is a limited service hotel that is tailor fit to provide straightforward facilities and amenities to guests on the go. Fairfield Cebu Mactan is API’s reply to the area’s growing need for airport and business hotels.
“Fairfield Inn & Suites by Marriott is one of the leading brands in the mid to mid-upper tier market. This is the market with the biggest demand in terms of volume. Unfortunately, not many quality options are available to this market,” said Steve Baek, MI senior director of Hotel Development in the Asia Pacific.
The agreement follows the first contract between API and Marriott for the development of the five-star Sheraton Cebu Mactan Resort and The Residences at Sheraton Cebu Mactan Resort in Barangay Punta Engaño, Mactan.
According to Baek, “Marriott International is very excited to grow the partnership with API through the Fairfield Cebu Mactan project. We appreciate this partnership with API, being a renowned developer in the Philippines with a great track record.”
“AppleOne is happy to develop a second Marriott property. We are confident that Fairfield Cebu Mactan will address the needs of travelers looking for world-class business accommodations in Mactan. AppleOne is honored that Marriott recognizes our capabilities in property development,” said API president and chief executive Ray Manigsaca.
Fairfield Inn & Suites currently has 1,024 open properties and 408 properties in the pipeline.
Fairfield Cebu Mactan is set for completion in the third quarter of 2022.
API is a real estate company with core business interests in hotel operations, property development and real estate sales.
Its subsidiaries are AppleOne Mactan Inc., Brickwall Construction and Development and SunSky Development Corp.