The Picasso Boutique Serviced Residences

What The Picasso Boutique Serviced Residences does

The Picasso Boutique Serviced Residences is a single-asset boutique serviced residence located at 119 L.P. Leviste Street, Salcedo Village, Makati City, Philippines. Operating since 2009 under management of Hospitality Innovators, Inc. (HII), the property offers 143 residences across six room types ranging from a 45sqm Malaga Studio (96 units) to a 93sqm bi-level Picasso Loft (2 units), each equipped with private balcony, full kitchenette, ergonomic workspace, and dual 300Mbps WiFi from Converge and Infinivan. The building is built around a Cubism-inspired design with rooms named after Spanish cities tied to Pablo Picasso's life, and houses the Altro Mondo contemporary art gallery on the 3rd floor, Pablo Bistro Spanish-Mediterranean restaurant, Cartel Deli café, a bi-level fitness center, a 24-hour rooftop deck, and Studio 119 salon.

Revenue is generated primarily from nightly accommodation (rack rates from PHP 9,665 with promotional discounts of 30-40%), supplemented by on-site food and beverage (Pablo Bistro, Cartel Deli), four event venues (Picasso Loft, Paulo Picasso Function Room, Convertible Suite, Art Gallery), in-room massage services (PHP 1,200-2,500/hour), and airport transfers. Distribution is direct-to-consumer via the SimpleBooking-powered website plus dedicated corporate sales, supplemented by OTAs (Agoda, Booking.com, Expedia, Klook) and co-marketing with Mastercard and Duty Free Philippines. The customer base spans couples, families, digital nomads and remote workers, business travelers and corporate accounts, corporate MICE events, and extended-stay guests, with five core segments and two secondary segments defined in the segmentation strategy.

The property holds Department of Tourism accreditation and three consecutive TripAdvisor Travelers' Choice Awards (2022-2024), with a 4.5/5 rating across 1,484 reviews on TripAdvisor, 8.8/10 on Booking.com, 9.0/10 on Expedia, and 4.9/5 on Klook. The company is privately held under HII, with no disclosed funding rounds, no public listing, and no M&A activity. Revenue is not publicly disclosed and the company operates with approximately 30 employees.

Name

The Picasso Boutique Serviced Residences

Legal name

The Picasso Boutique Serviced Residences

Website

https://picassomakati.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

The Picasso Boutique Serviced Residences is a 143-key boutique serviced residence in Salcedo Village, Makati, Philippines, operating since 2009 under Hospitality Innovators, Inc. It serves couples, families, digital nomads, business travelers, and corporate clients with kitchenette-equipped residences, dual-provider WiFi, an in-house contemporary art gallery, Spanish-Mediterranean dining, and MICE event venues.

Ownership category

akta.pro rank

Product category

Boutique Serviced Residences

NAICS

Hotels (except Casino Hotels) and Motels (72111), Traveler Accommodation (7211)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Hotels & Motels (7011)

akta.pro primary industry

Luxury Villas & Residences Resorts (THAGACAM)

akta.pro secondary industry

Art & Culture (Gallery/Museum) Hotels (THAGADAC)

Keywords

• Boutique serviced residences
• Extended stay hospitality
• Hotel event venues
• Mediterranean restaurant dining
• Corporate housing Makati

Headquarters

HQ city

Makati City

HQ country

Philippines

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Room/Suite Bookings: Primary revenue from nightly accommodation across 143 serviced residence units. Pricing varies by room type (Malaga Studio 45sqm to Picasso Loft 93sqm bi-level). Revenue generated through direct bookings, OTAs, and corporate accounts.
2. Food and Beverage: Pablo Bistro serves Spanish-Mediterranean cuisine from 7AM to midnight. Cartel Deli serves specialty coffee and deli items until 10PM. Room service available until 9:30PM.
3. Event and Meeting Spaces: Four event venues (Picasso Loft 80sqm, Paulo Picasso Function Room 73sqm, Convertible Suite 61-67sqm, Art Gallery 73sqm) with AV equipment and catering. Group bookings require minimum 10 rooms.
4. In-room Massage Services: Swedish/Shiatsu PHP 1,200/hour, Swe-Shi/Reflexology PHP 1,400/hour, Signature/Hot Stone/Ventosa PHP 1,700/hour, Hilot PHP 2,500/hour.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

The Picasso operates a single-property boutique serviced residence in Salcedo Village, Makati City, offering 143 accommodation units across six room categories (45-133 sqm) with full kitchenettes, private balconies, ergonomic workspaces, and dual 300Mbps WiFi. The property also runs two ground-floor dining outlets (Pablo Bistro and Cartel Deli), the Altro Mondo contemporary art gallery, a fitness center, a rooftop deck, Studio 119 salon, and four bookable event venues for corporate and MICE use.

Product overview

The Picasso Boutique Serviced Residences is a single boutique hotel property in Salcedo Village, Makati, offering 143 serviced residence units across six room types (Malaga Studio, Malaga Superior, Andalusia Junior Suite, Barcelona Suite, Picasso Loft, and Mallorca Adjoining Rooms). The property features two dining outlets (Pablo Bistro Spanish-Mediterranean restaurant and Cartel Deli café), the Altro Mondo contemporary art gallery, event spaces (Paulo Picasso Function Room, Convertible Suite, Picasso Loft venue, and Art Gallery), fitness center, rooftop deck, and Studio 119 salon. The hotel operates through Hospitality Innovators, Inc. (HII) management.

Differentiator

Problem solved

Functional benefit

Brands

• Altro Mondo Gallery: A contemporary art gallery on the 3rd floor showcasing Filipino and international artists with rotating exhibitions every 2-3 months. Open to guests and the public free of charge.
• Pablo Bistro
• Cartel Deli

Products and services

• Malaga Studio Entry-level 45 sqm serviced residence with queen, king, or twin bed options, full kitchenette, and private balcony. 96 units available, making it the largest room category in the property.
• Malaga Superior 45 sqm serviced residence with enhanced furnishings, full kitchenette, and private balcony. 16 units available.
• Andalusia Junior Suite Open-plan corner room at 81 sqm designed for both work and rest, with separate living area, full kitchenette, and private balcony. 6 units available.
• Barcelona Suite Spacious 88 sqm suite with separate living and dining areas, double-bay balcony, and bathtub. 23 units available in two variants.
• Picasso Loft Bi-level signature suite spanning 93 sqm across two dynamic levels with luxurious king bed, expansive living and kitchen spaces, double-bay balcony, and bathtub. Only 2 units exist.
• Mallorca Adjoining Rooms Combined configuration pairing a Malaga Studio (twin bed) with a Barcelona Suite (bathtub) for a total of 133 sqm, ideal for families. Available by direct booking only. 10 pairs available.
• Pablo Bistro Spanish-Mediterranean restaurant on the ground floor serving paella, striploin steaks, tapas, wine, and gin from 7:00 AM to midnight, with room service until 9:30 PM.
• Cartel Deli Café-deli-bar serving Coffee by Yardstick specialty coffee, artisanal sandwiches, pastas, and pizzetas from 7:00 AM to 10:00 PM, with room service until 9:30 PM.
• Altro Mondo Gallery Contemporary art gallery on the 3rd floor featuring rotating exhibitions every 2-3 months from emerging and established Filipino and international artists. Open daily 10:00 AM to 7:00 PM to guests and the public, free of charge.
• Paulo Picasso Function Room 73 sqm event space built for lectures, training, and meetings, equipped with presentation essentials, powder room, and a catering service area. Catering delivered via TOSH Cafe.
• Convertible Suite Event Space 61-67 sqm flexible venue that adapts to boardroom, classroom, theatre, and U-shaped setups, each configuration with kitchenette and full bathroom.
• Picasso Loft Event Venue 80 sqm bi-level venue for intimate gatherings up to 10 persons, featuring a reception and dining area below, breakout area above, kitchenette, and powder room.
• Art Gallery Event Space 73 sqm gallery space for cocktail parties and receptions held among the curated Altro Mondo art exhibitions.
• In-Room Massage Services Massage services available to in-house guests including Swedish and Shiatsu (PHP 1,200/hour), Swe-Shi and Reflexology (PHP 1,400/hour), Signature, Hot Stone, and Ventosa (PHP 1,700/hour), and Hilot (PHP 2,500/hour).
• Airport Transfer Service Airport transfer service for in-house guests including sedan (PHP 2,000 one-way), Innova (PHP 2,500 one-way), and van (PHP 3,200 one-way) options. Booking required 72 hours in advance.

Quantifiable outcome

• TripAdvisor Travelers' Choice Award for 3 consecutive years (2022-2024) with 4.5/5 rating from 1,484 reviews
• +2 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Hospitality Innovators, Inc. (HII)coreStrategic or Co-development Partner · 1 January 2009HII manages The Picasso Boutique Serviced Residences. HII is a Philippine-based hospitality management company operating 17+ properties across the Philippines. HII headquarters at G/F The Mondrian Residences, East Asia Drive, Filinvest City, Alabang, Muntinlupa City. Sister property: The Sphere Serviced Residences, 136 Valero Street, Salcedo Village, Makati City.
• TOSH Cafe (The Old Spaghetti House)minorImplementation/ SI/ Consulting PartnerExternal catering partner for event spaces. Located in Valero, Makati. Handles full catering for events at The Picasso's meeting and function venues.
• Duty Free PhilippinesminorGTM or Marketing PartnerDuty Free Philippines Balikbayan Plus and Premier Club members exclusive hotel deals with up to 32% off HII-managed hotels. Premium perks and extra value included. Valid until October 25, 2026.
• SimpleBookingcoreTechnology or IntegrationBooking engine technology provider powering direct website reservations at picassomakati.com. Enables dynamic pricing, availability management, and direct booking functionality.
• Altro Mondo Arte ContemporaneacoreStrategic or Co-development PartnerGallery partner operating Altro Mondo Gallery on 3rd floor of The Picasso. Features rotating contemporary Filipino and international art exhibitions. Gallery open to guests and public daily 10AM-7PM. Instagram: @altromondoart
• Yardstick CoffeeminorChannel Partner/ Reseller/ DistributorCoffee supplier for Cartel Deli cafe within The Picasso. Cartel Deli serves specialty Coffee by Yardstick along with artisanal sandwiches and pastries from 7AM-10PM.

Scale indicators4 records

Recent moves5 records

Expansion highlights9 records

Direct peers

• The Sphere Serviced Residences: A sister serviced residence property in Salcedo Village, Makati, also operated by Hospitality Innovators, Inc. (HII). Directly comparable in concept, size, target customer, and operating model, differing mainly in name and brand identity rather than offering.
• Discovery Suites Ortigas: An upscale serviced residence in Ortigas Center, Metro Manila, offering apartment-style units with kitchens and business amenities. Comparable Philippine-market boutique-serviced-residence positioning for corporate and family stays.
• Oakwood Premier Joy~Nostalg Center Manila: Oakwood-branded serviced residence in Manila offering apartment-style accommodations with kitchens and living areas. Targets the same corporate relocation, project-based, and extended-stay segments as The Picasso in Metro Manila.
• Ascott Makati: Ascott flagship serviced residence in Makati, competing for premium extended-stay and executive travelers. Comparable product offering (kitchenettes, separate living areas, central Makati location) with stronger international loyalty infrastructure.
• Seda Bonifacio Global City: Seda-brand serviced residence in BGC, Metro Manila's other major CBD. Comparable mid-to-upscale apartment-style product targeting business travelers and families in a competing Metro Manila central business district.
• Swiss-Belhotel Valero Grand Suites: Identified in The Picasso's competitive set as a Salcedo Village serviced residence operator. Competes for the same corporate, leisure, and MICE customers in the same micro-market under the Swiss-Belhotel international brand.
• Somerset Central Salcedo Makati: An Ascott-managed serviced residence in Salcedo Village, explicitly identified as a competitor in The Picasso's market. Targets the same Makati CBD extended-stay and corporate segment with comparable unit configurations, dining, and meeting facilities.
• Fraser Place Manila: Premium serviced residence in Manila targeting business travelers and relocating executives. Comparable apartment-style product with kitchenettes, central locations, and similar reliance on corporate and extended-stay demand.
• Citadines Salcedo Makati: Another Ascott-brand serviced residence in Salcedo Village identified as a direct competitor. Operates on the same apartment-style hospitality model targeting business travelers and long-stay guests in the Makati CBD.

Broad incumbents

• New World Manila Bay Hotel: An international-brand hotel in Manila Bay that competes for premium leisure, corporate, and MICE demand. Not a serviced residence, but operates in the same broader Metro Manila luxury hospitality market with stronger loyalty program reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PicassoMakati
• Instagraminstagram.com/picassomakati
• LinkedInlinkedin.com/company/the-picasso-boutique-serviced-residences

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Picasso Boutique Serviced Residences