Yu: Hospitality projects underway in Mandaue
More hotel rooms are expected to boost the accommodation inventory of Mandaue City as investors are starting to build hospitality facilities in the City.
"There are many upcoming projects in the pipeline, both foreign and local. We will see significant changes in the skyline of Mandaue City in the coming years," said Mandaue Chamber of Commerce and Industry (MCCI) vice president Steven Yu.
Yu made this statement following the recent study published by Colliers International Philippines' mentioning Mandaue City, along with Mactan Island as fertile areas for hotel and resort investments.
According to the report, Mandaue lags behind Cebu City and Mactan in terms of hotel room supply. The city only has seven three-star hotels offering close to 1,200 rooms.
"The Mandaue business community is open to pursuing investment opportunities in the hospitality sector," Yu added.
At present, aside from construction of more hotels in the City, Yu said Mandaue is also attracting condominium, commercial and industrial investments.
"For instance, the reclamation area is fast becoming a bustling commercial destination with malls, hospitals, hotels, condominium, schools and other developments,"Yu said, whose company,
Alain Asia Group of Companies recently announced its entry to retail leasing and hospitality businesses.
Yu's company established the Akropolis Stars Realty Development Corporation to develop the 160-room One Central Hotel and One Central mall, located in downtown in Cebu.