SM Prime Holdings Inc. on Thursday said it is expanding its China portfolio with the opening of the company’s first hotel in Xiamen City as the world’s second-largest economy trains its sights on enticing more foreign visitors.
The company opened last month its hotel dubbed voco Xiamen SM City, a 325-room facility with direct access to SM Xiamen.
Speaking to reporters during a Xiamen City media visit, SM Prime President Jeffrey C. Lim said the hotel marks an important milestone in the company’s China portfolio.
‘Voco Xiamen SM City is our first hotel in China and it connects directly to SM City Xiamen, the first property we opened in the country 25 years ago,’ Lim said. ‘With this investment, we are turning the complex into a complete lifestyle destination for tourists.’
Located steps from Wushipu Station on Metro Line 1 and about 15 minutes from Xiamen Gaoqi International Airport and Xiamen Railway Station, the 450-million-yuan hotel (around P4 billion) offers accessibility to overseas business travelers and local tourists.
SM Prime partnered with IHG Hotels and Resorts to develop voco Xiamen SM City.
A major coastal city in Fujian Province, Xiamen is home to the world’s 15th-largest container port and is one of China’s four major international shipping centers. It also hosts several Unesco heritage sites and Michelin-recognized restaurants, positioning the city to capture rising demand for micro-vacations and culinary experiences among Gen Z and millennial tourists.
It is also where many Chinese-Filipino businessmen came from, including the late Henry Sy Sr., founder of the SM Group.
China is emerging as the world’s largest overall tourism market, with its travel sector projected to grow to $3.5 trillion by 2036, almost double from $1.8 trillion last year, according to the World Travel and Tourism Council’s 2026 Economic Impact Research report released last June 3.
The growth outlook is supported by Beijing’s policy direction.
Earlier this month, China’s State Council approved a 5-year plan to strengthen the tourism industry through 2030, with a focus on improving tourism services, expanding product supply, unlocking consumption potential, and deepening international cooperation.