In 1990, a new member of the Ayala family was born. Tracing its roots to Ayala Corporation and Ayala Land, Inc., Ayala Hotels, Inc. (AHI) carried the vision and values of its parents and became the Ayala Group’s lead investment and development vehicle in the hospitality business. At its inception, AHI’s assets included two operating hotels: Hotel Inter-Continental Manila, a deluxe hotel located at the heart of the Makati Central Business District; and the Davao Insular Hotel, a resort-business hotel in one of the country’s biggest cities. The Company also owns two prime parcels of land in the Makati CBD which it currently leases to the Peninsula Manila and the Mandarin Oriental Hotel.

Through the years, AHI has formed various subsidiaries to manage its growing portfolio of assets. The first wholly owned subsidiary, Enjay Hotels, Inc., was established in 1990 to be the owning company of the Hotel Inter-Continental Manila. AHI also consolidated its holdings in Davao Insular Hotel Co., Inc., having completed the purchase of 65% of the company’s outstanding capital stock in 1992.

AHI likewise formed joint ventures with strategic partners, both local and foreign, to develop new hotels in key locations. In 1995, AHI and Cebu Holdings, Inc., another Ayala-affiliate, formed a joint venture company, the Cebu Insular Hotel Co., Inc. to undertake the construction of a 303-room businessman’s hotel at the Cebu Business Park. The hotel, which will carry the name Cebu City Marriott Hotel, formally opened in February 1998 and is being managed by Marriott Lodging, a respected international hotel chain.

The Company also entered into a strategic partnership with Rodamco Pacific Management Ltd., a Dutch investment group based in Hongkong. The joint venture company, the Makati Property Ventures, Inc., is currently building a luxury serviced apartment complex at the Ayala Center. The complex will consist of two 18-storey towers strategically located above the Glorietta, the center of retail and entertainment activities in the Makati Central Business District. It will house 306 apartment units, offering first-class service and accommodation to business travelers, expatriate families and other visitors. It will be managed by Oakwood Asia Pacific, a respected operator of serviced apartments worldwide, and will be known as Oakwood Premier Ayala Center.

In response to increasing tourism activities in the country, AHI, through its subsidiary, the Boracay Property Holdings, Inc., acquired an 80-hectare property on Boracay Island in 1993. Plans are currently being formulated to transform the property into a world-class integrated resort destination.

As the demand for quality accommodation continues to increase, Ayala Hotels, Inc. will strive to develop new hotels which respond to the discriminating requirements of its target clientele while ever aware of its responsibility to its shareholders, the environment and the community in general.