Wednesday, September 19, 2007 Firm to expand Cebu City hotel,lays out plan for housing project
CONFIDENCE in Cebu’s tourism industry has prompted a local hotel operator to plan the expansion of its guest capacity in the next three years.
Golden Prince Hotel Inc. (GPHI), which operates Golden Prince Hotel and Suites, plans to increase its current 57 rooms to at least 120 rooms before 2010, said managing director Benny Que.
He said the planned expansion will be done through acquisition of a property adjacent to the hotel’s location on the corner of Acacia St. and Archbishop Reyes Ave., Cebu City.
“There is bullish growth for Cebu in the convention market,” he told Sun.Star Cebu during the 13th anniversary of Golden Valley Hotel, which is also owned and managed by GPHI.
Golden Valley Hotel which opened in 1994 is located on Pelaez Street, Cebu City. It is the first hotel venture of GPHI.
Conventions
Que said that apart from the two hotels enjoying “good” occupancy rate averaging at 90 percent per month, both have also become venues for local conventions.
Golden Valley, for instance, has hosted several government and non-government organization meetings and conferences because of its proximity to the downtown area.
The 50-room economy hotel, with prices ranging from P800 to P1,800 continues to cater to local and foreign guests who stay for two to five days. It also have guests who stay up to 30 days.
“We want so set the trend in the downtown area,” Que said.
On the other hand, Golden Prince Hotel and Suites has seen the increase of corporate bookings even in its first year of operations. The hotel was officially launched last Sept. 25, 2006.
Corporate bookings account for 60 percent of its guests, while foreigners like Americans, Japanese and Europeans make up 40 percent, Que said.
Que also said GPHI will be establishing another company that will venture into residential mass housing project within the next six months.
He said the firm may start with a three hectare lot either in Mactan or Lilo-an, Cebu.
“This will probably be a joint venture,” Que said. (MMM)
