Megaworld to spend P5B on new hotel brand

PROPERTY developer Megaworld Corporation said on Thursday it will spend P5 billion on the development of three new hotels as it launches a new hotel brand in a bid to boost recurring income.

- tel, its third local hotel brand, and that it would open three hotels

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The company will open the by the end of the year at Boracay

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Next year, it plans to open

brand will be built at the 20-hectare The Mactan Newtown in Lapu hotel will offer 547 rooms and is

Meanwhile, Megaworld also billion to expand its Belmont

amenities such as podium gardens,

Two more hotels will be built under the Belmont brand, namely the 407-room hotel in Boracay New a 550-room hotel at The Mactan

- as a real estate company, and at the same time, our commitment to support the country’s tourism

Megaworld’s hotel portfolio -

The company added that it will also open the 126-room Twin Lakes hotel at the 1,200-hectare Twin Lakes township in Alfonso, Batan