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Budget hotel to open in Palawan

Posted on January 25, 2012 10:57:50 PM [ BusinessWorld Online ]

ROBINSONS LAND Corp. is expanding its budget hotel operations to the provinces by opening a branch in Puerto Princesa City next month, the developer said in a statement yestserday.

The 108-room Puerto Princesa will be Robinsons Land’s first branch outside Metro Manila following the 223-room Cybergate Plaza in Mandaluyong City.

The firm will bank on the popularity of Puerto Princesa City as an attractive tourist destination both for local and foreign visitors.

“We are very excited with our newest venture, most specially that Puerto Princesa is one of the most popular tourist destinations in the Philippines,” said Elizabeth D. Gregorio, general manager, in the statement.

Puerto Princesa City, the capital of Palawan province, is home to the Puerto Princesa Underground River, which was recently listed in the “New Seven Wonders of Nature” by the international New7Wonders Web site.

The city was also previously declared the country’s cleanest and greenest component city, Puerto Princesa’s Web site declared.

“We are expecting both local and foreign tourists to avail of our facilities, which has made a much and sought-after hotel accommodation in its category,” Ms. Gregorio added.

Meanwhile, Robinsons Land will also be opening a Robinsons Palawan shopping mall by the end of the first semester to serve the dining, shopping, and entertainment needs of hotel guests,
For the remainder of the year, more branches are expected to open in Dumaguete, Tacloban, and Bacolod cities, bringing Robinsons Land’s portfolio to five hotels and 639 rooms, the statement read.

Robinsons Land is the property arm of listed conglomerate JG Summit Holdings, Inc.

It has built 29 malls, 33 residential projects, eight office buildings, and five hotels as of end-September last year.

The Gokongwei-led firm hiked its net profits by 10% to P3.97 billion in the fiscal year ending September last year versus P3.60 billion for 2010, buoyed mainly by robust revenues from the company’s residential and commercial developments.

Total gross revenues for the period rose by 18% to P13.34 billion, while total costs and expenses grew by 21% to P8.49 billion.

Shares of Robinsons Land fell by 0.89% to P13.36 apiece yesterday. -- Franz Jonathan G. de la Fuente

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