Philippine-based SM Investments subsidiary SM Hotels and Conventions has signed a contract with Carlson to open a Park Inn in Davao City’s Lanang district in the Philippines.

The 200-room hotel will be the first Park Inn by Radisson in the Asia Pacific region.

The hotel will be built on a 175,000m² area and will be part of a mixed-use complex owned and developed by SM Investments shopping mall subsidiary SM Prime Holdings.

The Park Inn by Radisson Davao hotel will be constructed at a cost of PHP750m ($17.4 m) and will be managed by Carlson.

Construction of the hotel is slated to commence in the third quarter of 2011 and the hotel is scheduled to open by 2013.