Philippine conglomerate Alliance Global Group Inc. (AGI) announced it has set aside PHP59 billion ($1 billion) in capital expenditure this year to fund a series of high-profile developments, including new luxury hotels, integrated resorts, and overseas whisky operations.
The investment drive is aimed at sustaining the group’s long-term growth, with major projects led by its leisure arm, Travellers International Hotel Group, as well as real estate giant Megaworld and global liquor maker Emperador.
“We believe there exists a lot of opportunities here and across the globe where our business can grow”, AGI chief executive Kevin Tan said at the company’s annual stockholders’ meeting. “Our capital investments are expected to continue to focus on market expansions and strengthening our operational capacities.”
Travellers International, which operates the Newport World Resorts complex in Pasay City, will receive around PHP5 billion ($85 million) for its expansion.
Its newest project, The Narra Palm Hotel and Villa, will feature 157 hotel suites and villas, along with private gaming suites for VIPs. The property is being positioned as a Filipino-branded luxury destination.
Travellers is also planning new integrated resort developments in key tourism areas, including Boracay Newcoast in Aklan, The Mactan Newtown in Lapu-Lapu City, Cebu, and the Westside City complex along Manila Bay in Parañaque.
The bulk of the group’s capex—around PHP50 billion ($850 million)—will go to Megaworld, which is expanding its presence nationwide with new townships, hotels, office towers, and lifestyle malls.
The company plans to build commercial spaces with over 139,000 square meters of gross leasable area in Iloilo, Bacolod, Davao, Pampanga and Bulacan. New malls are also being developed in Boracay, Cavite, Rizal, and parts of Metro Manila, increasing retail space by another 151,000 square meters.
Record 2024 revenue
AGI posted record consolidated revenues of PHP223.6 billion ($3.8 billion) in 2024, up 6 percent from the previous year, buoyed by strong performances across its business units.
The conglomerate, led by tycoon Andrew Tan, holds interests in real estate through Megaworld Corporation, spirits through Emperador Inc., leisure and entertainment via Travellers International, and quick-service restaurants through its partnership with McDonald’s Philippines operator Golden Arches Development Corp.
Megaworld is also constructing hotels in Metro Manila, Pampanga, Palawan, Bacolod, Iloilo and Boracay, adding nearly 3,600 new room keys to its portfolio. Several new MICE (meetings, incentives, conferences and exhibitions) venues are also in the pipeline.
The company aims to launch at least two new townships before the end of the year, which would expand its township portfolio to 37.
Around PHP4 billion ($68 million) has been allocated to support Emperador’s international expansion, particularly in Scotland, where it owns whisky brands under Whyte & Mackay.
The group is also doubling production capacity at The Dalmore Distillery and expanding the maturation complex at Invergordon to 92 hectares. This includes the construction of 120 new warehouses, which will allow storage of an additional 1.5 million casks of maturing whisky.
Emperador said the expansion would support long-term demand growth and improve sustainability in its production processes.
