Ayala Hotels and Resorts, an affiliate of Philippines-based Ayala Land, is to open five boutique hotels, each costing between PHP650m ($15m) and PHP850m ($19.4m).

The hotel group is to open a hotel in Davao City and another property in Bonifacio Global City in Taguig in 2012.

Each hotel will feature a 180 guestrooms, meeting venues, common spaces, business corners, gyms, swimming pools and bars.

Ayala Hotels operates Hotel Intercontinental in Makati and the Marriott Hotel in Cebu City.