In the Philippines, hotel and casino operator Waterfront Philippines Incorporated has reportedly announced that it intends to spend approximately $32.5 million beginning from next year to renovate and upgrade four of its properties.
According to a report from The Philippine Star newspaper, the revelation came from Kenneth Gatchalian, President for Waterfront Philippines Incorporated, with the simultaneous work to involve venues in Cebu City, Manila, Davao City and Lapu-Lapu.
For the Waterfront Cebu City Hotel and Casino in Cebu City, Gatchalian reportedly explained that his firm has set aside almost $7.9 million to renovate the facility’s existing convention offerings. This 560-room venue purportedly relies heavily on the meetings, incentives, conventions and exhibitions sector and is expected to face increased competition from the coming The Emerald Resort Hotel and Casino, which is due to open for business only twelve miles away in 2019.
Waterfront Philippines Incorporated’s Waterfront Airport Hotel and Casino in Lapu-Lapu sits is even closer to the coming $341 million development being built by local firm Udenna Development Corporation and the newspaper reported that this venue is due to have additional rooms added at a cost of about $8.8 million. Located adjacent to Mactan-Cebu International Airport, the 161-room enterprise purportedly caters mainly to tourists and has recently been experiencing room shortages.
The Philippine Star reported that in Davao City, Waterfront Philippines Incorporated intends to counter the imminent opening of the luxury Dusit Thani Residence Davao by spending nearly $8.7 million to upgrade the rooms inside its Waterfront Insular Hotel Davao property.
Finally, the newspaper reported that Waterfront Philippines Incorporated has earmarked about $7 million to renovate every one of the 550 rooms at its Waterfront Manila Pavilion Hotel and Casino in Manila. Gatchalian purportedly stated that this revamp, which is to begin on the 330 rooms currently open, will additionally include the installation of an improved telecommunications infrastructure.
Gatchalian reportedly told The Philippine Star that the coming renovations and upgrades, which are to be funded from internal resources, will take up to 18 months to complete and that his firm was not currently looking into any new projects.