TOURISM INVESTMENTS. Alan Ting, a director of the Five Power Ventures Inc. board, discusses the company’s investments in tourism products. (CONTRIBUTED FOTO)
FIVE Power Ventures Inc., the holding company of the Cebu Parklane International Hotel, is increasing its investments in tourism by developing three different tourism products in the next five years.
The expansion, which covers the development of a beachfront resort in Cordova, a mountain resort in Busay and a condotel in the city, will cost the firm an estimated P300 million in investments, according to Alan Ting, a director of the Five Power Ventures Inc. board.
A six-hectare property in Barangay Babag, Busay will be converted into a mountain resort with 50 villas and a 5,000-square-meter flower and organic vegetable farm, he said.
Cebu Parklane International Hotel General Manager Cenelyn Manguilimotan said they are completing the requirements with the Department of Environment and Natural Resources (DENR). She said they have also requested the DENR to inspect the site to determine which part of the property still falls under the protected area.
To cater to long-staying guests, the firm will also develop an 80-room condo-hotel in the city to complement its 241-room hotel. According to Manguilimotan, the project sits on a 1,300-square-meter area will be an eight-storey mid-rise building, with two floors dedicated to commercial spaces.
“We intend to build a project intended for long-staying guests because this is one of our strong markets. In fact, in our hotel we average 50 rooms a day,” she said. Long-staying guests at Parklane, mostly executives from business process management companies, stay for a minimum of one week up to six months.
The Ting-led company will also develop a 1.4- hectare beachfront resort in Cordova.
Ting has yet to disclose more details of the project as they are still on the drawing board.
“The Ting family is going aggressive in tourism because they are happy with how Parklane is doing. We’ve been growing amid the tough competition in the accommodation sector and amid the presence of big and international chain. We were able to ride with the growth of the country’s vibrant tourism industry,” said Manguilimotan.
Cebu Parklane International Hotel, on the other hand, is also undergoing a P1.5-million facelift for its food and beverage (F&B) component and a P4-million room improvement, specifically, the change of door-locks to upgrade security.
Published in the Sun.Star Cebu newspaper on December 11, 2014.