Berjaya Hotels and Resorts of Malaysia is spending PhP200 million for the renovation of Makati Avenue Hotel.
Travellers International Hotel Group, Inc., a joint venture between local firm Alliance Global Group, Inc. and Genting Hong Kong Ltd., has raised US$300 million in fresh capital by selling seven-year bonds. Travellers International, which operates the eight-hectare Resorts World Manila in Pasay City, said the proceeds from the fund raising will be for the expansion of Resorts World.
Korean developer M Castle Philippines Ltd. Co. has proposed to build a resort in Subic Bay Freeport at a cost of US$1 billion. M Castle will develop a 615-hectare property at the nearby town of Morong in Bataan.
Grand Dame Hotel, one of the finest hotels in Iloilo City, received the “Trofeo International De Hosteleria” during the 36th International Awards for Tourist, Hotel and Catering Industry held at the Hotel Melia Castilla in Madrid, Spain on 20th January 2011.
A foreign group behind the Fullerton Hotel in Singapore is in talks with the Philippine government for the transformation of the Manila Central Post Office into a first-class hotel.
Ms. Gemma Cruz Araneta, vice president of the city of Manila’s Historical and Heritage Commission, said the group is currently engaged in negotiations with the government.
Property firm Belle Corp. expects to open its Belle Grande Manila Bay project at the Entertainment City along Manila Bay by the first quarter of 2013. Company vice chairman Willy Ocier said the project would primarily target the foreign market, including Chinese players, which is the main source of revenues of gaming companies operating in Macau and Singapore.
Taiwanese firm Eaglesky Technology Amusement and Gaming Inc. (Estag) is building a PhP1 billion casino and hotel complex called Estag Airport Hotel and Entertainment Complex just beside the Clark Airport. The company plans to hire 300 employees when the hotel begins operations.
Japanese firm Universal Entertainment Corp. has committed to invest US$2 billion for an entertainment and gaming complex called Manila Bay Resorts on the Bagong Nayong Pilipino Entertainment Complex in the reclaimed portion of Manila Bay. Its Philippine unit, Tiger Resorts,Leisure and Entertainment Inc., said the plan is to build two luxury casino hotels with 450 and 650 rooms each.
However, the project became uncertain following reports that Wynn Resorts Ltd. bought out its Japanese investor, Kazuo Okada who controls Universal Entertainment, for extending cash and gifts worth US$110,000 to the Philippine Amusement and Gaming Corp. (Pagcor) officials.
Alliance Global Group Inc., the holding company of businessman Andrew Tan, will build a new luxury hotel within the group’s 25-hectare Newport City just across the Ninoy Aquino International Airport Terminal 3 in Pasay City.
SM Investment Corp. has opened the 400-room Radisson Blu Hotel in Cebu City. SM, which invested PhP2.5 billion for the construction of the hotel, has tapped the Carlson Group to run the first Radisson Blu in the Asia-Pacific region.