Marco Polo Ortigas Hotel
Marco Polo Ortigas Hotel will rise in Pasig City soon, after Chinese firm Xin Tian TI Development Corporation (XTT) and Marco Polo Hotels (MPH) have secured fiscal incentives from the Board of Investments (BOI) for the construction of the 313-room five-star hotel in Ortigas, Pasig. Construction is expected to be completed in the second quarter of 2014, with the grand opening of the hotel to occur soon after.
The PhP2.565 billion, 40-storey Marco Polo Hotel will rise on Meralco avenue in Pasig City. It is expected to have a five-star rating a "de luxe class hotel" status from the Department of Tourism. The hotel met the hurdle of at least the peso equivalent of US$100,000 per room to get pioneer status. The computed cost per room is US$188,841 at an exchange rate of PhP43.40. The hotel will sit on a 1,749 square meter lot.