Oakwood Premier Joy Nostalg Center Manila which is based in Ortigas now enjoys an 80-percent occupancy rate, less than a year after its opening, according to a report by BusinessMirror.
For 2011, the hotel operator expects average occupancy rate to improve to at least 90 percent, according to general manager Brian Connelly.
Oakwood is already attracting foreign executives from business outsourcing firms, pharmaceuticals and other companies who need to stay in the country for a longer-thn-usual period of time. "Business has been good despite the fact we are a new inventory in Ortigas," Mr. Connelly said.
Only about 25 percent of Oakwood's guests are Filipinos. They are usually returning overseas workers transiting to other destinations. About 30 percent are from North America, another 30 percent from around Asia and the rest spread among other nationalities.