H2O Ventures and Worldhotels are partnering to develop five hotels in the Philippines for US$200 million.
The first project will be the new-build, 252-room Worldhotel and Residences Makati, which will also include 149 serviced apartments. The hotel will be managed by hotel marketing consortia Worldhotels, Frankfurt, Germany, and is scheduled to open in 2013 or 2014.
“We are pleased to announce that the Worldhotel branding is now extended to the Philippines,” said Roland Jegge, Worldhotels’ vice president, Asia Pacific.
H2O Ventures, Makati, Philippines, developed the Manila Ocean Park oceanarium and the adjacent aquarium-themed, 306-room Hotel H2O, a member of the Worldhotels Deluxe Collection. It plans to develop three of the four other hotels primarily outside the Manila urban area.
“We want to go to Boracay, Busuanga, and Cebu and build hotels there. We have already secured the Busuanga and Boracay sites. All these are resort properties,” said Lim Chee Yong, H2O Ventures founder said, adding that the site for the fifth hotel is still to be determined. “We believe in the Worldhotel brand and we want to make this a known brand in the Philippines. That’s why we’re looking for one more suitable location here, if the opportunity arises. It can be in Quezon City or Ortigas.”