SM PRIME Holdings, Inc. has expanded its China portfolio with the opening of voco Xiamen SM City, its first hotel within the country, because the property developer broadens its presence beyond retail.
“voco Xiamen SM City is our first hotel in China and it connects on to SM City Xiamen, the primary property we opened within the country 25 years ago,” SM Prime President Jeffrey C. Lim said in an announcement on Thursday.
The RMB 450-million (about P4.10 billion) hotel, which opened in June, has 325 rooms starting from 32 square meters (sq.m.) to 120 sq.m.
Situated about quarter-hour from Xiamen Gaoqi International Airport, the hotel can be near Xiamen Railway Station and Metro Line 1 Wushipu Station.
The hotel is operated under the voco brand of InterContinental Hotels Group (IHG) and targets the premium market.
The opening comes after China’s State Council approved a five-year plan to strengthen the country’s tourism industry through 2030 by expanding tourism offerings and boosting consumption.
China is projected to develop into the world’s largest tourism market, with its travel and tourism sector expected to achieve $3.5 trillion by 2036, in response to the World Travel and Tourism Council’s (WTTC) 2026 Economic Impact Research report.
“With this investment, we’re turning the complex into a whole lifestyle destination for tourists,” Mr. Lim said. — Juliana Chloe A. Gonzales