Megaworld eyes P5B branded hotel binge

Property-based conglomerate Megaworld Corp is set to open five new hotels in the country under brands Savoy Hotel and Belmont Hotel in the next three years.

“Megaworld is spending P5 billion to build the three Savoy Hotels in Boracay, Cebu and Manila.

Part of our goal is to make this hotel brand visible in our other townships across the country,” Megaworld Senior Vice President Jericho Go.

Megaworld’s first Savoy Hotel will open in Boracay Newcoast by the end of the year.

The 530-room Savoy Hotel Boracay will rise in the 150-hectare tourism township in the eastern part of the island.

The listed firm is spending P2.2 billion for its first-class resort hotel in Boracay.

Next year, Megaworld will launch the 684-room Savoy Hotel in Newport City, Pasay City while it will open the 547-room Savoy Hotel Mactan Newtown in Lapu- Lapu City, Cebu in 2018.

Likewise, Megaworld is investingP3.5 billion for the expansion of Belmont Hotel brand.

The firm will open 407- room Belmont Hotel Boracay Newcoast in 2018 and another one in The Mactan Newtown in Cebu with 550 rooms in 2019.

“Our rapid expansion of our very own hotel brands is an indication of Megaworld’s diversification as a real estate company, and at the same time, our commitment to support the country’s tourism industry,” Go noted.

RIZA LOZADA