Anya Hospitality Corp. — a partnership between Roxaco Land and Fuego Hotels — will manage the resort included in the list of “Small Luxury Hotels of the World.”
Roxaco had targeted to open the resort earlier in September 2016. The company, however, have to spend more time than planned in developing the land, President Santiago R. Elizalde noted during the media briefing.
“Strange enough, as we were constructing the clusters, we came across some voids underground, which we felt, may have an effect on the construction of the building. So we had to take care of that. That problem has been resolved,” Mr. Elizalde said.
The resort will feature three heated pools, three restaurants, fireplaces and a library, among others. It will offer studios and one-bedroom units for about P6,000 to P15,000 a night.
Roxaco Land sold the hotel units to investors for P8.9 million to P19 million, but Anya will manage the rooms and lease them out in exchange for a guaranteed share in the revenues generated from the entire resort.
“We have a rental program that is proven, bullet proof and guaranteed and transparent,” Anya Development Director Andrew Sparrow said.
“You make 45 centavos for every single peso that goes to the room and that’s it. No deductions, nothing hidden, it’s totally transparent and an amazingly simple rental program. Now, if you give me 45% of P15,000 a night, I’m pretty happy with that, I’m going to make money that’s real quick.”
On average, an investor can supposedly book yields of around 8% in the first five years and 12-14% in the following five years.
“About 1.5 million people went to Tagaytay four years ago. This year, it’s going to be 3.5 million. Now, if you are going to invest, you don’t invest in a quiet place… So, to me, if I’m going to give you a dollar, I’d say you put it in Tagaytay now,” Mr. Sparrow said.
Roxaco Land has only three investment units left unsold in Anya Resort & Residences. It targets to clear the inventory within the month or before the resort opens in April.
The resort represents the second phase of the entire development in Tagaytay City. The first phase comprises residential lots, which the owners can develop in accordance with three different house designs recommended by Roxaco Land.
The third phase will offer 134 residential units in 10 low-rise condominiums with prices starting at P9 million. It will feature one- to three-bedroom units spanning 52 to 105 square meters in buildings rising three to five stories high.
Roxaco Land may take about two years in the land development stage alone, Mr. Elizalde said, noting the company will start constructing the condominiums with sales value totaling P1.2 billion depending on the demand.
“We actually have one or two buyers of the initial cluster, but these are buyers that have already bought Phase 2 but also want another unit, so they were aware that we have a Phase 3,” Mr. Elizalde noted.
“Not many people are aware that we will have a phase three. By the middle of the year we should be selling Phase 3 quite aggressively.”
