BusinessWorld
FILINVEST DEVELOPMENT Corp. plans to pursue a larger presence in the hospitality industry by building a chain of budget hotels, an official said late last week.
“We have two [budget hotels] that [are] in the planning process,” Josephine G. Yap, Filinvest Development president and chief executive officer, told reporters at the sidelines of the firm’s annual stockholders’ meeting on Friday.
The two developments will be constructed by Filarchipelago Hospitality, Inc., a joint venture between Filinvest Development and Singapore-based Archipelago International Pte. Ltd., Ms. Yap said.
The firm’s first and only hotel is the Crimson Resort and Spa in Mactan, Cebu, opened in October 2010. The deluxe hotel complex is managed and operated by the joint venture.
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FILINVEST DEVELOPMENT Corp. plans to pursue a larger presence in the hospitality industry by building a chain of budget hotels, an official said late last week.
“We have two [budget hotels] that [are] in the planning process,” Josephine G. Yap, Filinvest Development president and chief executive officer, told reporters at the sidelines of the firm’s annual stockholders’ meeting on Friday.
The two developments will be constructed by Filarchipelago Hospitality, Inc., a joint venture between Filinvest Development and Singapore-based Archipelago International Pte. Ltd., Ms. Yap said.
The firm’s first and only hotel is the Crimson Resort and Spa in Mactan, Cebu, opened in October 2010. The deluxe hotel complex is managed and operated by the joint venture.
Read here
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