Megaworld allocates P500M for Bacolod hotel
MEGAWORLD Corp. continues the expansion of its hospitality business with the development of a P500-million luxury boutique hotel within its Bacolod City township.
In a statement issued Tuesday, tycoon Andrew L. Tan’s property firm said the hotel inside the 34-hectare The Upper East township is set to cater to conventions, weddings, and other MICE (meetings, incentives, conventions, and exhibitions) events in the area.
Offering a total of 48 suites, the hotel will house an all-day dining restaurant, cafe, courtyard, swimming pool and pool deck, fitness center, lanai, and Megaworld’s signature hotel bar concept called Zabana Bar.
The hotel will also feature a ballroom that can accommodate up to 1,000 guests in a banquet setting, making it the largest hotel ballroom facility in Bacolod City. It can likewise be divided into three separate ballrooms for smaller events.
“This luxury boutique hotel will be another landmark in The Upper East. The hotel will be a perfect venue for conventions, weddings and memorable celebrations as it integrates an outdoor garden setting into its ballroom facility. Megaworld is keen on helping boost the MICE tourism industry of Bacolod,” Megaworld Bacolod Vice President for Sales and Marketing Mary Rachelle I. Penaflorida said in a statement.
Megaworld expects to complete the hotel by 2022.
The hotel is being built on the site of a guest house within the Bacolod-Murcia Milling Company Compound. Megaworld will be using the retrofitted heritage house as the hotel’s main lobby, while the old house’s guest rooms will be converted into the ballroom.
Megaworld has tapped heritage architect and conservationist Dominic Galicia — the same person who redesigned the National Museum of Natural History in Manila — to design the hotel.
Meanwhile, the company will also be upgrading its first residential condominium in The Upper East called One Regis to meet the demand for more units.
The now 12-storey condominium building will feature two penthouse floors with upper and lower penthouses, a bi-level amenity deck with residential units, exclusive residential floors, and additional basement parking.
A wellness lounge and game and entertainment room will likewise be added to the initial plan for amenities, which already includes a swimming pool and kiddie pool, pool lounge, fitness center, events hall, and a walk park.
One Regis is expected to generate P1.2 billion in sales, and will be completed by 2022.
The projects are part of the P28-billion investment Megaworld committed to spend for The Upper East in the next 10 years.
Shares in Megaworld dropped 5.02% or 22 centavos to close at P4.16 each at the stock exchange on Tuesday. —