Contact Information

Cebu Holdings, Inc.
20/F Ayala Center Cebu Tower
Bohol Street, Cebu Business Park
Cebu City, Cebu 6000
Tel: (63 32) 888 3700

ACC revenue growth up 17 percent in 2015

Monday, April 25, 2016

Amid the tight competition in the shopping mall business in Cebu, Ayala Center Cebu still eked out a 17 percent revenue growth from P1 billion in 2014 to P1.2  billion last year.

This is a clear manifestation of Cebu's brisk retail landscape, as Ayala Center continues to be the premier shopping mall facility in Cebu.

"Despite increased competition, average daily foot traffic increased by 12 percent to 121,000 people per day largely due to the opening of major lifestyle brands such as H&M, Pull and Bear, and [expanded] Rustan’s," reported Cebu Holdings Inc., president Aniceto V. Bisnar Jr., in his report to stakeholders.

The destination mall is currently 96 percent leased out with 94 percent occupancy.

Aside from the opening of the bigger Rustan’s Department Store, H&M, Pull and Bear, other lifestyle brands that opened last year include, Bershka, Pacsports, and the re-opening of a larger Marks & Spencer outlet.

The company further reported that the Cinema 5 incident, has not affect the mall's performance. In fact, it employed much pro-active approach in its security and safety department.

On June 15, 2015, the acoustic board ceiling of Cinema 5 collapsed during a private screening event. The joint investigation indicated a loose sprinkler pipe joint which caused the discharge of a significant amount of water, resulting in the collapse of the ceiling board.

The mall management, working with its consultants and contractors embarked on a complete renovation of the cinema, "to ensure the safety of our customers and prevent recurrence of the incident."(FREEMAN)