Vol. XXII, No. 11 [ BusinessWorld Online ]
Monday, August 11, 2008 | MANILA, PHILIPPINES
CAGAYAN DE ORO — Two new hotels will rise in this city in time for the opening of Laguindingan airport in 2010.
"More investors are putting their money into tourism facilities, specifically in hotels and real estate development," said city tourism officer Imma Rae D. Gatuslao.
She said that one problem that the city’s tourism office constantly faces when bidding to host big events is the lack of tourist facilities.
"This [the new hotels] would boost our chances to bid for national conventions," she said.
Korean leisure firm, I.F. Koresco Corp. earlier said it plans to build a $20-million 100-room casino hotel. Construction will start before the end of the year.
Moreover, Limketkai Sons, Inc. will begin construction of its 21-storey 250-room Novotel alongside its commercial complex early next year. Limketkai Group chief executive officer Alfonso Y. Lim said the hotel will cost P700 million.
Also, Mallberry Suites, located between the Limketkai business district and Gaisano Mall, is reportedly increasing the number of rooms by then. — Geefe P. Alba
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