New condotel project near BGC 80% sold out

As its construction remains in full swing, Ridgewood Premier Hotel will open its doors to the public by the last quarter of 2023, providing savvy investors a few select units more to choose from as about 80 percent of the total units have been sold.

The condo/hotel, located just beside Bonifacio Global City or BGC, occupies the 15th to 17th floors of the final building of Ridgewood Square.

Once up and running, Ridgewood Premier Hotel will have a world-class management team handling hotel operations. Led by Novel Residential Concepts Inc. chief operating officer and veteran hotelier Marc Ngo, the team will ensure that this condotel caters to the demands of the modern traveler. It also means guaranteeing that each unit will remain well-cared for and ready to accept guests anytime.

Condotel unit owners can expect up to 12 percent in annual returns, which is a significant bump from return projections of 7.7 percent made by similar condotel projects. The management of Ridgewood Premier Hotel guarantees investors a minimum six percent in annual returns.

With hotel occupancy rates expected to return to pre-pandemic levels as the global economy continues to recover, Ngo is confident that Ridgewood Premier Hotel can give investors a top-up of up to six percent based on hotel occupancy.

This early, Ngo eagerly anticipates the return to normalcy. As the world slowly veers away from the pandemic, international businesses will return with an appetite. “By 2023, travelers to the Philippines, specifically to BGC, will find the new Ridgewood Premier Hotel waiting for them,” he said.

The pandemic changed a lot of thinking among business leaders. Many started to look for value for money whenever they spend on business necessities such as travel and accommodation. “With Ridgewood Premier Hotel, they’ll find the creature comforts they can expect from upscale hotels, but without the highly prohibitive costs that usually come with a central business district address,” he said.