PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

TV host eyes Tagaytay hotel, high-end projects

June 3, 2013 9:22 pm [ ]
Television host and actor Willie Revillame is looking to developing a high-end boutique hotel in Tagaytay City as part of his move to establish more business ventures in the future.
Revillame, in an interview with reporters, said that he has a one-hectare land in Tagaytay, which he plans to use in putting up a high-end boutique hotel.
He also specified that in developing the hotel, he doesn’t have any plan yet to tap partnerships like in his other business ventures.
“One hectare yun, actually nagsisimula na yun, high-end ulit, isang boutique hotel, connected yung villas [It’s a one hectare property and the project has actually started. It’s a high-end boutique hotel with villas],” Revillame said.
He further said that it may take one year and a half to complete the hotel, adding that a “significant investment cost” is involved with the project.
“Medyo magastos yun kasi on top of the hill, kasi huhukayin mo, medyo mas magastos ‘to [It’s pretty expensive because it’s on top of the hill, it involves deep excavation],” he added.
The hotel, including the villas, will have 35 to 40 units.
Besides the Tagaytay project, Revillame also has other business ventures, including his recently topped off mixed-use residential tower, Wil Tower Mall, other high-end developments and his airplane-rental business.
According to the TV host, he has spent more than a billion pesos for the Wil Tower Mall, adding that he also has other high-end projects in his investment portfolio.
“Meron din akong iba, more of a high-end. Trabaho ko kasi pang-masa, kaya yung ginawa kong business, pang-high-end naman [I still have other high-end projects. My work involves the masses, so I established a business that is more on high-end for a change],” he said.
On his other businesses, Revillame said that his recently acquired 30-seat jet plane earns about P3 million to P4 million a month and he is about to acquire another plane.
Wil Fly, which is a business unit of Wire, the umbrella company owned by Revillame, has spent around $5 million for the acquisition of the host’s current plane. For the new airplane, he is looking to spend around $11 million.

real estate central philippines
Copyright ©2008-2018