FIVE months after announcing the JW Marriott Hotel brand for Panglao, Bohol, Cebu-based property developer AppleOne Properties Inc. will also bring in JW Marriott Residences to the island.
This fresh investment is anticipated to stimulate economic growth and generate additional employment opportunities on the island.
In a Facebook post, Monday, Nov. 6, 2023, AppleOne Group said it officially signed an agreement with Marriott International to introduce the JW Marriott Residences brand to Panglao Island, Bohol.
This will be co-located with JW Marriott Panglao Island Resort & Spa, which is slated to be the first luxury hotel on the island.
“This project underscores AppleOne’s unwavering commitment to creating distinctive living spaces that exemplify the highest standards of luxury and sophistication,” the company said.
JW Marriott Residences will be built on a seven-hectare beachfront property in Panglao, Bohol. It is poised to “offer a unique lifestyle that combines modern luxury and the holistic mindfulness of the JW Marriott brand.”
In an interview Monday, Nov. 6, 2023, Joey Roi Bondoc, research director at Colliers Philippines, said this new venture only indicates interest from foreign hotel brands to enter the Philippine market as the tourism sector is finally starting to recover after the disruptions in 2020 and 2021.
“Looking forward, we only expect greater collaboration between Philippine developers and foreign hotel operators as they try to maximize recovery of the Philippine tourism market,” he said.
Bondoc added that the investments of AppleOne in Bohol will further raise Bohol’s attractiveness as a tourist destination. It can also capture a fraction of Cebu’s visitors.
Recently, the National Economic and Development Authority Board approved six high-impact projects worth P269.7 billion, including the P4.5 billion upgrade of the Bohol-Panglao International Airport.
The Bohol-Panglao International Airport project aims to increase the passenger capacity and improve the passenger experience at the airport which is currently enough to support two million passengers in a year.
With the expansion project, the airport’s maximum passenger capacity is expected to reach 2.5 million during the first year of implementation and is expected to pick up to as much as 3.9 million by the end of the project.
JW Marriott Residences is AppleOne’s third partnership deal with Marriott International, following the Sheraton Cebu Mactan Resort located along Punta Engaño Road, Mactan Island, the Fairfield by Marriott Cebu Mactan that is located within the premises of Mahi Center along ML Quezon National Highway in Barangay Ibo, Lapu-Lapu City and JW Marriott Panglao Island Resort & Spa in Panglao, Bohol which was announced in June this year.