By Iris Gonzales (The Philippine Star) |
Updated September 13, 2016 - 12:00am
The company’s hotel chain will carry the
name Mella, similar but a shortened version of Vista Land’s popular housing
brand Camella Homes, said Vista Land Founder and Chairman Manuel B. Villar Jr.
MANILA, Philippines - Vista Land &
Lifescapes is pouring in about P1.6 billion to develop another hotel brand,
making it a complete and integrated real estate company with solid recurring
earnings.
The company’s hotel chain will carry the
name Mella, similar but a shortened version of Vista Land’s popular housing
brand Camella Homes, said Vista Land founder and chairman Manuel B. Villar Jr.
“The name will be Mella Hotels,” Villar
said.
“By 2020, Vista Land will be completely
different and will be a complete real estate company. There will be horizontal
and vertical residential projects, hotels, malls and BPO offices,” Villar said.
He said the hotel chain, targeted for
the middle market, would be put up in Tagaytay, Las Pinas, Bataan and two in
Boracay.
At present, the company already has a
small hotel in Boracay, which they acquired recently.
“We are still feeling our way in the
hotel business but we plan to go big and will soon be ramping up our
expansion,” he said.
The company is already building two hotels
– a second branch in Boracay and a third one in Las Piñas.
“We have not decided yet on the number
of rooms but these should have around 150 rooms each,” he said.
Vista Land has set aside roughly P1
billion for the construction of the
hotel in Boracay, which will be located beside the upscale Shangri-La Resort
Boracay.
For the Las Pinas branch, Vista Land is
expected to invest P500 million to P600 million.
More branches will be put up in
Tagaytay, Bataan, and in Daang-Hari where Vista City is located.
Villar said they would put up a Mella
Hotel beside its first hotel brand, Crosswind in Tagaytay.
The company is also investing heavily to
develop more office spaces as the country’s business process outsourcing
industry continues to grow.
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