Wednesday, January 09, 2008 Upscale resort in island
THE rising demand for high-end lifestyle resort destinations prompted a young Cebuano entrepreneur to think of opening a boutique resort in Malapascua Island, Cebu.
Martin Yeung, MSY Holdings Corp. (MSYHC) chief operating officer, said the Salimbangon-Yeung company is contemplating of opening a resort with “specialized” bungalow villas at a family-owned seaside property in Malapascua, off the Daanbantayan town in northern Cebu.
“The concept is (to) build the villas on the sea, just like in the Maldives,” Yeung said in an interview with reporters.
The floors, he said, would be made of glass to enable one to view the sea from inside the villa.
“We want to focus on relaxation and incorporate scuba diving there,” said Yeung.
While he has not yet come up with a name for the project, Yeung said he envisions to have about 30 villas that will carry a “simplistic yet modern design” that incorporates the Cebuano culture.
First phase
Yeung said he hopes to begin the first phase of resort project in the second quarter of this year.
The future resort, he said, will be managed by a professional hotel management group.
The multi-million peso project will focus on the higher-end market, including local and foreign celebrities.
Yeung said, though, that the resort-villa will be the company’s second priority project for the year as Kandaya, MSYHC’s first resort venture, will be its main focus. “We plan to finish Kandaya first within the first quarter of 2008,” he said.
Kandaya is a boutique hotel, envisioned to have five- or six-star amenities, located on a 12-hectare property of the Yeung family in northern Cebu. Yeung earlier said the construction of the hotel started over a year ago.
Kandaya involves the creation of a two-story building with 18 rooms and the entire project is estimated to cost P500 million.
Nearing completion
To improve access to the resort, Yeung said the company will discuss with the local government unit the possibility of having air transportation facilities, including an air strip, in the area.
Kandaya is now 70 to 80 percent complete, Yeung announced.
He is optimistic that while Kandaya and the Malapascua resort will be targeting the same high-end market, the two properties would not compete with each other.
“The one in Malapascua, we plan to ‘up the level’ there. Prices for the villas will be significantly higher than that of Kandaya,” he said.
Yeung said the family’s decision to venture into the boutique resort business is due to the booming tourism industry in Cebu, particularly in the northern part of the province, which shows huge growth potentials.
“Cebu can certainly sustain its tourism charm,” he said.
With popular resort hot-spots like Bali, Indonesia becoming saturated, he said the leisure market will eventually be looking for something “more specialized.”
“Soon, they will come to Cebu and discover nature at its best,” Yeung said. (MMM)
