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Manila Bulletin devider Business devider The Stock Market devider Cebu Landmasters opens 3rd hotel

Cebu Landmasters opens 3rd hotel

Published Jan 16, 2024 09:37 am

VisMin property developer Cebu Landmasters Inc. (CLI) has further expanded its hospitality portfolio with the opening of lyf Cebu City, its third operational hotel.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said lyf Cebu City is designed to serve young travelers looking to immerse in local cultures.

It is located at CLI’s mixed-use property Base Line Center in mid-town Cebu near Fuente Osmeña Circle, a key venue of the vibrant Sinulog Festival held every January in the city. 

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The hotel offers 159 rooms of One of a Kind (studio queen), Side by Side (studio twin), All Together (2-bedroom) and All Together (4-bedroom) units, while presenting convenient access to surrounding commercial and essential establishments.

“We are excited for the opening of lyf Cebu City that offers young travelers an exciting blend of modern accommodations and a dynamic environment unmatched in Cebu. CLI’s hotel portfolio is growing and we are happy to offer a unique experience to VisMin’s growing tourism market,” said CLI Hotels & Resorts Director Mathias Bergundthal.

The new hotel is the first lyf property in the VisMin region, and the second in the Philippines. A brand of global hotel operator The Ascott Limited, lyf  stands for “live your freedom,” the mantra of its target market of dynamic travelers.

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The opening of lyf Cebu City brings CLI’s operational hotel count to three, following the launch of The Pad Co-Living last month with 258 rooms and Citadines Cebu City in 2019 with 180 rooms. 

Like the Citadines, lyf Cebu City is also operated by international hospitality group The Ascott Limited.

To strengthen its hospitality business, CLI also has partnerships with other international hotel operators, including Radisson and Accor, and with local players like the Abaca Group.

The opening of lyf Cebu City gives CLI 10 projects under its hospitality portfolio, which now features more than 1,700 keys and 316 rooms currently completed.

Another hotel from the listed company is underway with the 200-room Citadines Bacolod City set to open in March 2024. Radisson Red with 144 rooms will also open by the end of the year.

Unaudited revenue from the listed company’s hospitality business shows a 67 percent increase year-on-year in 2023. 
 

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Cebu Landmasters Inc. Ascott Limited
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