ONE of Cagayan de Oro City's oldest hotels will be closing its doors by year end.

Pryce Plaza Hotel Front Office Head Lucille Jamero said the management of the hotel has informed them that hotel operations will only be until the morning of December 31.

Jamero, however, could not say if hotel operations will resume at some future date or if the hotel will shut down to give way to renovations.

"The management did not mention any reasons why our operations would only be until December 31, depende lang sa ila (It depends on them)," Jamero said.

A source, who declined to be named, said cut throat competition may have forced Pryce Plaza to close down.

"Of course daghan na diri sa downtown mga hotels nga first-class pud so others would opt nga dili na muadto kay traffic pa gyud,” she said.

She said having "Pryce Gas" prominently displayed on top of the establishment may have also constituted bad marketing strategy.

“I think, it is inappropriate nga imong ibutang ang Pryce Gas on top of it as it undermines the hotel name," she said.

"Who would want to stay there diba nga pagtan-aw pa lang gikan sa ubos nga Gas ang makita? They would think nga gas ang naa didto. Everybody buys their gas products and I think they don't need to advertise it. So if they can't keep with the competition, the least they can do is renovate and improve it to keep up but don't close it," she added.

Known previously as Villa Hermosa and later as Alta Tierra Hotel, Pryce Corporation took over the management of the 81-room hotel in 1991 and the hotel was, for a time, arguably the most luxurious hotel in the city.

Dorothy Jean Pabayo, City Tourism Council chairperson, said she was saddened by the news and said she hopes the shutdown would only be temporary.

"I'm sad, if it's really going to close, we will be missing that kind of ambiance it offers that cannot be found in anywhere hotel in the city, the unique food, swimming pool, overall atmosphere," she said.

"I hope they don't close it, I hope they will just renovate it and improve it because for me, I am really very proud of that hotel and everybody else too. I urge the owners if they really plan to close that they should reconsider their decisions because it has been a big part of the history of Cagayan de Oro," she added.

Pabayo said Kagay-anons have always been proud of the hotel because of its location.

The hotel sits on top of Carmen Hill and has a majestic view of the city and Macajalar Bay.

"Legend has it that is where the legendary giant Agyo would cross the river from that hill to this side of the river near the city hall," Pabayo said.

In the 70s, she said the hotel's location was a favorite place for teenagers where they would pick up fresh fruits such as lumboy and guava.

She also noted that the hotel was a favorite of local and foreign tourists and said even reigning Miss Universe Pia Wurtzbach, a Kagay-anon, had stayed in the hotel.

"I remember when I was with DOT it is where we held our joint tourism conference with the BIMP-EAGA, representatives from Brunei, Indonesia, Malaysia came here to attend that activity,” Pabayo said.

“It is also where our major activities here were conducted there because it is secluded, you are up on top of the world, so to speak, looking down on Macajalar Bay and the city of Cagayan de Oro as it was growing then," Pabayo added.