Boracay Lighthouse + Boracay / Palawan / Cebu pipeline
The Philippines acquisition-targets pipeline in five blocks.
The Philippines acquisition-targets brief walks the 5-pillar deal pipeline the Philippines thesis page names — Boracay Lighthouse as the named flagship on the Boracay Station 1 white-sand corridor, plus the four target-corridor bands that feed the Philippines leg (Boracay Station 1, Palawan resort-bay, Cebu urban-adjacent weekly-stay, then the screening gate). Every acquisition runs the same five-stage deed pipeline and underwrites against the same 7-year IRR ≥ 14% gate + 8–12% modelled USD-denominated SE Asia band the deck publishes — there is no bespoke Philippines underwriting model. The five blocks below ground the Boracay Lighthouse + Boracay / Palawan / Cebu bands in the typed constants the Philippines thesis and the deck PDF already publish, so a capital partner cross-checking the deck PDF, the Philippines thesis page, and the BRIEF PDF reads the same underwriting gate in all three.
01 · Operating edgeEnglish-stack
English-speaking operating environment — listings, guest comms, LP filings
The Philippines corridor runs on an English-speaking operating environment across every operating touchpoint. Cebu, Boracay, Palawan — domestic + regional demand, strong shoulder-season occupancy, English-speaking operating environment. Onboarding friction stays low: Airbnb / VRBO / Booking.com listings publish in English, guest messages reply under a 1-hour SLA in English, in-market housekeeping contracts read in English, and LP filings + per-property statements route to US counsel and capital partners without translation overhead. The per-property operating stack built for the SE Asia leg inherits a language pass-through on the Philippines that the Thailand and Vietnam markets cannot match. Listings quality (photo, copy, response time) is reviewed on the same weekly cadence the deck specifies, so the Philippines corridor reads in lockstep with the Thailand + Vietnam + Malaysia mix.
Source: investor-deck.INVESTOR_DECK.slides[markets].rows[Philippines] (Cebu, Boracay, Palawan — domestic + regional demand, strong shoulder-season occupancy, English-speaking operating environment)
Read the Philippines investor thesis →02 · Yield band8–12% band
8–12% modelled band via 8–12% ROI preset
The Philippines corridor sits inside the SE Asia modelled 8–12% annual net yield band — anchored in the same ROI preset that back-stops the Thailand + Vietnam + Malaysia markets on the calculator. 8–12% annual net yield, after management fees (15%), platform fees (~3%), utilities, insurance, and a 5% vacancy reserve. Illustrative annual net yield band after management fees, platform fees, and a vacancy reserve. Yields projected, not guaranteed. Capital deployed into the Philippines is priced against the same 8–12% band Thailand + Vietnam + Malaysia acquisitions are priced against, so adding a Philippines property to the corpus carries incremental opex rather than an order-of-magnitude yield re-rate. The Philippines corridor inherits the same per-property underwriting gate as every other market in the corpus — a 7-year IRR ≥ 14% under base case clears the purchase, and a pre-acquisition comp-set ADR screen (±20% of median) is applied before any Boracay / Palawan / Cebu property advances through diligence. Yields are projections, not guarantees.
Source: roi-presets.MARKETS[sea].yieldMin / yieldMax (8–12%) · investor-deck.INVESTOR_DECK.slides[roi].rows[SE Asia target band] (8–12% annual net yield, after management fees, platform fees, utilities, insurance, and 5% vacancy reserve) · investor-deck.INVESTOR_DECK.slides[acquisition].rows[Underwriting] (7-year IRR ≥ 14% gate) · investor-deck.INVESTOR_DECK.slides[acquisition].rows[Deal-flow criteria] (±20% of comp-set median) · investor-deck.INVESTOR_DECK.terms.targetNetYieldCopy
Read the Philippines investor thesis →03 · Beachfront corridorBoracay / Palawan
Boracay / Palawan / Cebu — the Philippines beachfront thesis
The Philippines beachfront thesis turns on three named corridors: Boracay (Station 1 white-sand resort strip), Palawan (El Nido + Coron resort-bay inventory), and Cebu (urban-adjacent weekly-stay demand from regional + Korean + domestic Japanese + Chinese inbound). Cebu, Boracay, Palawan — domestic + regional demand, strong shoulder-season occupancy, English-speaking operating environment. Domestic Philippine demand fills the shoulder season that the Thailand / Vietnam markets see dip in their off-peak months, smoothing the SE Asia leg's quarterly distribution into a more uniform profile than the rest of the SEA mix delivers on its own. The Philippines leg inherits the same 8–12% modelled band as the rest of the SE Asia leg and runs through the same acquisition diligence sequence as every market in the corpus. Per-property model: acquisition price, set-up capex, 5-year ADR / occupancy projection, opex stack, exit cap rate. Acquisition clears only if 7-year IRR ≥ 14% under base case.
Source: investor-deck.INVESTOR_DECK.slides[markets].rows[Philippines] (Cebu, Boracay, Palawan — domestic + regional demand, strong shoulder-season occupancy) · investor-deck.INVESTOR_DECK.slides[acquisition].rows[Underwriting] (7-year IRR ≥ 14% gate) · roi-presets.MARKETS[sea].yieldMin / yieldMax (8–12%)
Read the Philippines investor thesis →04 · Single operatorOne operator
Single operator across the Philippines corridor — no per-market handoff
The Philippines corridor runs on a single operator across the Boracay + Palawan + Cebu markets, so there is no per-market operator handoff and no per-market reporting stack. Monthly P&L per property, quarterly portfolio summary, and annual partner letter with forward-year plan. No LP time is spent on day-to-day guest ops. Dynamic pricing is tuned per island (Boracay sunset pricing ≠ Palawan family pricing ≠ Cebu urban-adjacent weekly-stay pricing) but the listings, housekeeping, and guest-comms infrastructure is shared across the Philippines leg — so adding a new property to the Philippines corpus carries incremental opex rather than an order-of-magnitude operations lift. Beachfront or near-beachfront resort zone, 3–6 bedrooms, turnkey or light-renovation, current nightly rate within ±20% of comp-set median, title clean. The single-operator model means LPs see one monthly P&L per property, one quarterly portfolio summary, and one annual partner letter across the Philippines corridor — not three separate per-market operating reports.
Source: investor-deck.INVESTOR_DECK.slides[management].rows[Owner / LP reporting] (monthly P&L per property, quarterly portfolio summary, annual partner letter) · investor-deck.INVESTOR_DECK.slides[acquisition].rows[Deal-flow criteria] (beachfront / 3–6 BR / ±20% of comp-set median)
Read the Philippines investor thesis →05 · Boracay flagshipBoracay Lighthouse
Boracay Lighthouse — the named Philippines flagship
Boracay Lighthouse is the named flagship for the Philippines corridor — a 4-bedroom beachfront villa on the Boracay Station 1 white-sand corridor. Nightly rate ($395.00/night) sits inside the Band of the existing Koh Samui Beach Villa pricing (the same 8–12% modelled SE Asia band the underwriting model prices against), so the visible nightly rate and the 8–12% modelled band read in lockstep for a capital partner cross-checking the deck PDF and the thesis page. Boracay Lighthouse sits inside the Boracay / Palawan / Cebu beachfront thesis (Pillar 03) and inherits the same underwriting gate as every other property in the corpus: Per-property model: acquisition price, set-up capex, 5-year ADR / occupancy projection, opex stack, exit cap rate. Acquisition clears only if 7-year IRR ≥ 14% under base case. Acquisition clears only when the per-property model returns a 7-year IRR ≥ 14% under the base case — so even the named Philippines flagship advances through the same underwriting gate as every other property in the corpus. Illustrative annual net yield band after management fees, platform fees, and a vacancy reserve. Yields projected, not guaranteed.
Source: PHILIPPINES_VILLA_BORACAY_LIGHTHOUSE · investor-deck.INVESTOR_DECK.slides[acquisition].rows[Underwriting] (7-year IRR ≥ 14% gate) · investor-deck.INVESTOR_DECK.slides[markets].rows[Philippines] (Boracay corridor) · investor-deck.INVESTOR_DECK.terms.targetNetYieldCopy · roi-presets.MARKETS[sea].yieldMin / yieldMax (8–12%)
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