The trend in real estate these days is to acquire an old property, destroy everything in the lot and build a new high-rise condominium, a giant mall, a BPO building, or maybe a mixture of the three.
When the Cuevas family purchased the Sulô Riviera Hotel from its original owners, people expected the new owners to board up the place, and put up a new development project. After all, what better way to increase the value of real estate than by having new developments done to the property?
Instead, the Cuevas family opted to rehabilitate the 45-year-old Sulô Riviera Hotel and refurbish the interiors, and rid it of its infamous carpet flooring. Add to that, the Cuevas family plans to put up a high rise condominium-hotel, utilizing the 9,500 square meter property on which the hotel stands.
Re-designed and operated by Cristina Cuevas, who now sits as the hotel’s executive director, the Sulô Riviera Hotel is making a comeback in the hotel industry in the northern part of the metro. Entrepreneur.com.ph asked Cristina Cuevas what makes the Sulô Riviera Hotel a premium piece of real estate that made their family buy it when it was put on the market:
“The hotel is already a known brand. It is already a landmark in the area,” said Cristina Cuevas. Given that it’s already established, the Cuevas family no longer has to start from scratch to make their presence felt in the hotel industry.
“The location of the hotel is strategic,” said Cuevas. Just a block away from the busy road of East Avenue and the thriving Elliptical Road, Sulô Hotel is a refuge from the busy Quezon City while remaining to be accessible.
3. Lot Area.
“The size of the lot where the hotel is located is quite big at 9,500 square meters. Where else can you find a lot as big in the heart of Metro Manila,” said Cuevas.
Redesigning the interiors of the hotel was something that came easy for Cuevas, despite having no formal training in the field since she has been exposed to the world class designs during her trips abroad.
Having the eye for beautiful and functional things definitely helped Cuevas when she undertook the renovations of the hotel in 2010.
“When we did the renovations, we had to do it part by part so that the hotel can continue to function. While it was an inconvenience for everyone, the results are very worth it,” Cuevas said.
While the hotel has been fully renovated, some of the iconic pieces from its past were preserved. The pool area and the original structure have been retained by the new owners.
“It was a conscious decision to retain the façade of the hotel. So that its charm remains and when people enter, they see a totally different dimension, the new interiors of the hotel,” Cuevas said, adding that surprise is an important element in the hotel business as it is what makes people remember and return to the hotel.