SM Prime Holdings, Inc. said it is seeing strong demand for its Premier Suites following a July 9 trade launch, building on the offering's presence at the SM Mall of Asia Arena and its expansion to the SM Seaside Cebu Arena.

"Premium suites have become a popular feature at leading sports and entertainment venues worldwide because they elevate the live event experience," SM Prime President Jeffrey C. Lim said in a statement on Tuesday. "They also give businesses a more engaging way to connect with clients, partners and employees," he added.

The suites are offered exclusively to companies and brands under leases of at least one year. Each 40-square-meter (sq.m.) unit can accommodate up to 30 people and includes lounge and theater-style seating, a private restroom, VIP access, high-speed Wi-Fi, and views of live events. Corporate tenants may also install branded furnishings and other fixtures. At the SM Seaside Cebu Arena, suite holders additionally have access to six multipurpose function rooms for meetings, corporate events, and other business activities, underscoring how the offering is positioned not only for entertainment access but also for corporate hosting.

SM Prime introduced its premium suite concept at the SM Mall of Asia Arena in 2012. It has since upgraded its facilities and services, including advance event advisories, direct office ticket delivery, dedicated suite attendants, and customized menus from Premiere Café and accredited caterers.

Companies holding suites at SM arenas include Aboitiz Group, ABS-CBN, Cignal TV, Citicore Renewable Energy Corp., Coca-Cola, Globe Telecom, Inc., Meralco, Nestlé Philippines, Philippine Airport Ground Support Solutions (PAGSS), PLDT Inc., Power Stroke Motor Products Corp., PremiumLeisure and Amusement, Inc., San Miguel Corp., Solaire Resort Entertainment City, Sun Life Philippines, The Mont Property Group Inc., Unilever Philippines, and Visa.

Early suite partners at the SM Seaside Cebu Arena include Bai Hotel, Cebu Landmasters, Inc., Cokaliong Shipping Lines, Dynamic Power Marine \u0026 Industrial Hardware, Inc., Nature's Spring, Skyrise Realty and Development Corp., and the University of Cebu.

SM Prime noted that major international venues, including Madison Square Garden, The O2 Arena, and Mercedes-Benz Arena Shanghai, also offer private suites in various formats and configurations.

Cebu Arena Updates

During the company's media briefing last week, SM Prime Chief Finance Officer John Nai Peng C. Ong said the company had booked around 10 of the 24 Premier Suites at the SM Seaside Cebu Arena.

Meanwhile, SM Prime Executive Vice-President Cris Noel E. Torres said the arena is part of the company's broader property strategy rather than a major standalone growth business.

"So we don't expect to be in the live entertainment venue business in a big way, but we do appreciate its effects for us as an integrated property strategy," he said.

Mr. Torres said the arena is expected to bring additional visitors to the SM Seaside Cebu estate and support activity across the property.

"An arena plays a meaningful role because it adds more foot traffic and people to the estate, and it supports our other businesses," he added.

Mr. Lim said the SM Seaside Cebu Arena and the SM Mall of Asia Arena in Pasay are expected to serve different markets.

"The MOA Arena caters basically to the Luzon market, while the Cebu Arena can draw audiences from Visayas, Mindanao, and even neighboring countries," he said.

Mr. Lim said artists and producers touring the Philippines are expected to eventually stop in both Manila and Cebu to reach audiences in different parts of the country.

"We do expect that artists and producers will eventually include both Manila and Cebu in their Philippine tours," he said.

At the local bourse on Tuesday, SM Prime shares fell 0.33% to P18.12 apiece. — Alexandria Grace C. Magno