The Phinma Group is planning to build additional Microtel Inns and Suites, which could appeal to guests with
gap year travel insurance.
Business World Online reports that the development company has identified the budget accommodation sector as remaining in demand despite the global downturn and is looking to build more than 15 new sites across the Philippines.
Each hotel is estimated to cost around P85 million (£1.2 million) and will take less than a year to build, while rooms do not cost more than $40 (£26.94) a night.
Jose Mari R del Rosario, president and chief executive officer of Phinma unit Microtel Inns and Suite Pilipinas, told the website: "We are still cautious but we remain confident on domestic tourism."
The plan is to complete the expansion within the next two years, building on the existing nine branches which the firm already runs throughout the region, while attracting greater number of visitors with
worldwide travel insurance.
The Phinma Group is based in Makati City in the Philippines.
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