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Marco Polo, XTT seal deal

Posted May 15th, 2012 by Jenniffer B. Austria
[ manilastandardtoday.com ]

Marco Polo Hotels and Xin Tian Ti Development Corp. on Monday finalized their partnership to develop a P3-billion five-star hotel in the Ortigas central business district.

XTT president Samuel Po said in a signing ceremony the hotel, which will contain 313 guest rooms and upscale suites, is scheduled to open by the fourth quarter of 2013.

“Marco Polo Hotels has been known for its excellent services and first-class signature touches, we are incredibly excited to be affiliated with this reputable hotel brand in Asia Pacific for the Marco Polo Ortigas, a P3-billion investment,” Po said.

Marco Polo Ortigas is the third addition to Marco Polo’s growing portfolio of hotels in the Philippines. The other two hotels are in Cebu and Davao.

Marco Polo also signed a trademark royalty agreement with tycoon George Ty’s Federal Land Inc. to manage an upscale two-tower residential project rising near the Marco Polo hotel in Cebu.

“We are delighted to the addition of this hotel, located in the prime location of the capital of the Philippines. Our rapid growth and development in the Philippines and China has further strengthened our brand and its awareness throughout Asia Pacific,” Marco Polo president Steve Kleinschmidt said.

Next to China, the Philippines has the most number of Marco Polo hotels in Asia.

The contemporary 5-star Marco Polo Ortigas offers a view of the city center and direct access to Meralco Avenue in Ortigas.

The hotel will offer upscale amenities, which include extensive meeting facilities, signature all-day dining restaurants, a Chinese restaurant, a lobby lounge and a Sky Bar that offers a view of city skyline, an indoor swimming pool, health club and spa.

Marco Polo is a wholly-owned subsidiary of The Wharf (Holdings) Ltd., a Hong Kong-listed company with core business interests in property and investments in communications and container-terminal operations.

XTT is a development corporation established by First SLP Holdings to manage hotel and tourism-related businesses. The Ortigas hotel will be the company’s first venture into the hotel business.

First SLP fully owns JS Unitrade Merchandise Inc., which is engaged in the manufacture of baby care, feminine hygiene and geriatric care products with annual revenues of over $120 million.

 (Published in the Manila Standard Today newspaper on /2012/May/15)
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