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Saturday, July 16, 2005
Marco Polo Hotel group to run Cebu Plaza Hotel
The Marco Polo Hotel Group will operate Cebu Plaza Hotel, which will be renamed the Marco Polo Plaza Hotel.
In an invitation for a July 25 contract signing sent to Sun.Star Cebu by Investor Relations Global, Asia Pacific Management Corp. (APMC) was identified as the owner of the hotel.
The invitation said APMC had picked international operator Marco Polo Hotel Group to run the hotel.
Ellaine Santos of Investor Relations Global, the company doing public relations for Metropolitan Bank and Trust Co. (Metrobank), said Asia Pacific Management Corp. is part of the Metrobank group.
Cebu Plaza Hotel closed in 2003 after its owner, Pathfinder Holdings Philippines Inc. (PHPI), turned it over to Metrobank in payment of PHPI’s P900-million debt. PHPI had used Cebu Plaza as collateral for its loan.
Tourism industry stakeholders lamented the closure of the hotel, saying it contributed to the shortage of rooms for tourists, especially during the peak seasons.
Last May, Tourism Secretary Joseph “Ace” Durano disclosed that Cebu Plaza would reopen in September, a welcome development since Cebu is hosting the 19th Philippine Advertising Congress this November.
Durano said Metrobank would continue to own the hotel but partner with an international hotel management company to manage it. (CTL)
(July 16, 2005 issue)
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