**What a motorcycle road trip across Bohol in the Philippines taught me about hospitality investment**
I recently spent a week travelling across Bohol by motorcycle, from Panglao to Loboc, through the interior, then Candijay, Guindulman and Anda.
It was a great trip, but also a reminder of something I increasingly believe when looking at hospitality projects:
**There is no single “best” hospitality concept. The right concept depends on the market, location and customers you are targeting.**
In Panglao, I started my trip in a villa **developed by one of my clients**.
What interested me was not only the quality of the property, but the way the land had been used.
The footprint was compact, yet the villa provided privacy, comfortable living spaces and a private pool.
Where land is increasingly expensive, every square metre has a cost.
**Good architecture is not only about design: it can improve the guest experience and support the ADR and occupancy the project is targeting.**
But this raises another question:
**How much CAPEX do you really need to create an experience the market is willing to pay for?**
As I travelled away from Panglao, the equation changed.
Around Loboc, Candijay, Guindulman and Anda, the strengths of a hospitality project can be very different.
Nature, tranquillity, landscapes, local experiences and space may become more important than expensive private facilities.
A private pool may make perfect sense in one location.
In another, investing in outdoor areas, common spaces, access to nature or a strong food experience may create more value.
And lower CAPEX per unit does not necessarily mean lower returns.
This is why I believe hospitality development should start with a **commercial diagnostic**, not an architectural plan.
Before deciding how many villas to build, whether each needs a private pool, or whether the project needs a restaurant, I would first ask:
Who is the target customer?
What ADR can the market realistically support?
What occupancy can reasonably be achieved?
How seasonal is demand?
Who are the real competitors?
What experience will make the guest choose this property?
And how much investment does that experience justify?
Only then should the concept be translated into a financial model:
**CAPEX → Revenue → Operating Costs → EBITDA → Cash Flow → Returns**
For me, the development sequence should be:
**MARKET → LOCATION → CUSTOMER → CONCEPT → CAPEX → RETURNS**
Not:
**LAND → ARCHITECTURE → CONSTRUCTION → FIND THE CUSTOMERS**
This distinction matters particularly in destinations experiencing rapid tourism development.
A spectacular sea view, rice terraces, a river or untouched coastline can immediately make us imagine a resort.
But:
**A beautiful site is not necessarily a good hospitality investment.**
The opportunity appears when location, customer demand, concept, investment level and operating model work together.
That was my main takeaway from travelling across Bohol.
The island does not offer one hospitality market, but several micro-markets, each requiring a different investment thesis.
And sometimes, a motorcycle road trip is also a very good way to understand a hospitality market. 🇵🇭🏍️
#HospitalityInvestment #HospitalityDevelopment #Philippines #Bohol #HotelDevelopment #OPKOFinance
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