|
Wednesday, November 02, 2005
Cebu Plaza, other hotels to re-open before yearend
The tourism department has convinced some property owners to open foreclosed hotels this year and increase tourist accommodation facilities in Cebu.
The opening of the Marco Polo Plaza Hotel (formerly Cebu Plaza Hotel) before the end of the year is one of the positive results of the efforts of the Department of Tourism (DOT), said Secretary Joseph “Ace” Durano.
He said another foreclosed property, the Coral Reef Hotel, located in Mactan, is set to open also before the end of the year.
“We are talking to owners of hotels and resorts, that they open within the year so that Cebu will have more rooms to accommodate the increasing number of foreign tourists,” he said on the sidelines of the grand launching of the Hilton Cebu Resort and Spa last week.
Durano said the DOT already had talks with the Philippine National Bank (PNB), which now owns Coral Reef after it was foreclosed several years ago, on the possibility of turning over the property to the land development company of taipan Lucio Tan.
Lucio Tan is the majority stockholder of PNB, in which the government has a minority stake.
On the side of the government, Durano said President Arroyo had approved a policy decision supporting the project during the last cabinet meeting.
He said the DOT patterned its proposal for the Coral Reef reopening on model used by Metropolitan Bank and Trust Co., the owner of Cebu Plaza Hotel.
Metrobank foreclosed Cebu Plaza in 2001. The bank initially planned to sell the property but was not able to close deal with the interested buyers.
“We (DOT) were able to convince them to turn over the property to their real-estate arm so that they can open the hotel soon,” Durano said.
He said Metrobank’s real estate firm, Federal Land Inc., is now taking over the hotel and has partnered with the management company of Marco Polo Hotel.
As for the hotel owned by SM Prime Holdings, located across SM City Cebu, Durano said the firm plans to open the hotel in 2007 yet.
“(SM) is now looking for another hotel management company to manage it. They also plan to add a convention center to the property,” he said.
SM initially tapped Sheraton as its partner in the hotel operation. The economic crisis in 1997 stalled the partnership.
With the opening of new hotels, including the Cebu Hilton, Durano said Cebu will soon see more foreign visitors. (JBN)
(November 2, 2005 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
