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Philippines’ Zobel de Ayala clan makes US$2.5 billion bet on retail, hotels

For Mariana Zobel de Ayala, the chance to help develop the Philippines’ tourism industry by boosting Ayala Land’s investments in retail and hotel properties could not have come at a better time. As the senior vice-president for leasing and hospitality of one of the largest developers in the Philippines, Zobel de Ayala believes tourism will be a major driver of the country’s economic expansion. Ayala Land, which bought the 578-room New World Hotel Makati from distressed Hong Kong developer New...


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