Ayala Land Acquires New World Makati Hotel, Philippines, Expanding Hospitality Footprint in Prime Location
- Discovering Hospitality
- 9 hours ago
- 2 min read
Ayala Land, Inc. has announced its acquisition of the New World Makati Hotel, a 578-room luxury property formerly owned by Hong Kong-listed New World Development Co. Ltd. The hotel will now be operated by Ayala Land Hotels and Resorts, the company’s dedicated hospitality subsidiary, further strengthening its presence in the country’s premier business district.
The terms of the deal were not disclosed.
Originally opened in 1994 on land leased from Ayala Land, New World Makati Hotel marked New World Development’s sole foray into the Philippine hospitality sector. The divestment comes as the Hong Kong-based conglomerate—controlled by the family of billionaire Henry Cheng—completes a HK$88.2 billion (US$11.2 billion) debt refinancing, providing financial relief amid broader restructuring.
George Aquino, President and CEO of Ayala Land Hospitality, said the acquisition aligns with the group’s long-term strategy. “This move reflects our continued focus on offering a cohesive and high-quality guest experience across key locations. We are excited to welcome this iconic property into our growing hospitality portfolio.”
Meena Dy, President and CEO of Ayala Land, Inc., emphasized the strategic importance of the asset: “New World Makati has long been a landmark in our Makati estate. This acquisition deepens our roots in the district and affirms our commitment to developing world-class destinations that blend business, leisure, and lifestyle.”
Robert Lao, Senior Vice President and Group Head of Ayala Land Estates, added: “The hotel complements our broader vision for the Makati Central Business District as a vibrant, integrated urban hub. With Ayala Land now both the landowner and operator, we can ensure a seamless guest experience that reflects the highest standards in design, service, and sustainability.”
The New World Makati Hotel joins Ayala Land’s prestigious roster of city and resort hotels across the Philippines, and enhances its extensive Makati holdings, which include luxury malls, high-end residences, commercial towers, and the ongoing redevelopment of Ayala Center.
