BUDGET hotel chain mySTAY Hotels is targeting to increase direct bookings and maintain an 80% occupancy rate next year, according to its chief executive officer (CEO).

“We’re actually maintaining around 80% occupancy…, which I believe is relatively higher in the industry regardless of star rating,” Reigine Valerie S. Banaag, CEO and general manager of mySTAY Hotels, told BusinessWorld on the sidelines of a Philippine Hotel Owners Association event on Nov. 18.

“We are actually increasing more of our direct market. Right now, we have different sources. The majority is, of course, online travel agencies,” she added.

mySTAY has four branches: mySTAY Hotel BGC East, which opened in September 2022; mySTAY Hotel BGC West, which opened in November 2022; and the last two branches, mySTAY BGC North and South, which opened in January and May last year, respectively.

mySTAY is set to release its own membership program next year, which is expected to increase bookings on its website.

Currently, most of mySTAY Hotels’ bookings come from third-party websites like Agoda and Booking.com, according to Ms. Banaag.

mySTAY Hotels features a modern-minimalist style, catering to budget-conscious millennials and Gen Z travelers.

The majority, or 80%, of its visitors are from the domestic market, while 20% are foreigners. Most of its bookings are for leisure, particularly for those who wish to visit BGC in Taguig City, Ms. Banaag said.

Guests can choose from different room options. The Deluxe Queen and Deluxe Twin rooms both measure 12 square meters (sq.m.), while the Loft Bunk room has an area of 10 sq.m. The Garden Suite, measuring 22 sq.m., is only available at mySTAY Hotel BGC South.

Room rates at mySTAY Hotels start at around P1,499 per night.

The four properties also include additional facilities such as a café, a co-working space, and a gym.

While the company has no concrete plans for expansion, Ms. Banaag said this could still be possible due to its high occupancy rate.

“For now, there are no concrete plans for expansion, but for me, with how it is looking with mySTAY, I can only be optimistic about the expansion of the brand,” she said.

mySTAY Hotels is the hotel brand of the Philippines Urban Living Solutions, Inc. (PULS), a rental housing development company catering to young professionals on a budget. In 2017, Sy-led SM Investments Corp. acquired a 61.2% stake in PULS. — Beatriz Marie D. Cruz