Chroma Hospitality Inc., a unit of the Gotianun-led Filinvest Hospitality Corp., is aggressively expanding its footprint in the Philippines, with more hotels opening beginning next year under its Grafik brand.
CHROMA Hospitality Inc., a unit of the Gotianun-led Filinvest Hospitality Corp., is aggressively expanding its footprint in the Philippines, with more hotels opening beginning next year under its Grafik brand.
He describes Grafik Mactan “as art and experiential estate-driven. In Mactan, it will focus on the beach design, island hopping and all of that stuff. So our activities are geared towards that, while the one in Baguio will really be focused on health and wellness, and we have one that’s planned for Dumaguete and that’s for diving.”
The lease contract for the Baguio property, he said, was “signed, designed, and started construction in the pandemic.” Despite the Covid uncertainty, Montenegro said, “I think at that time, Mrs. [Josephine Gotianun] Yap was very positive about the tourism business. And we signed it with [then BCDA chair] Vince Dizon. And I think there was a lot of trust in there, right? Because of the pandemic, drives to destinations are more popular now.
“The resorts picked up faster to the city hotels. But now it’s shifting a little bit. City hotels are starting to pick up more. [Despite the closure of Crimson Mactan], if I look at the revenues of all of the hotels, they’re almost at pre-pandemic level. My expectation is by the end of this year, we will be about prepandemic [revenue] level, and next year we’ll be past pre-pandemic [level]. And after 2024, maybe income positive.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CIT-U coach on fine, suspension: It’s unfairFromtheArchives: Cebu Institute of Technology-University (CIT-U) Wildcats head coach Edsel Vallena believes the Cebu Schools Athletic Foundation Inc.’s (Cesafi) decision to suspend and fine him was unfair. CDNDigital
Read more »
Alliance Global hikes 2023 capital spending to P70bAlliance Global Group Inc., the listed holding company of tycoon Andrew Tan, earmarked P70 billion in capital expenditures for 2023 to support the expansion of its property, liquor and gaming businesses.
Read more »
Plaintiffs in US suits vs PLDT contestedTelco giant PLDT Inc. is asking for the rejection of investors Sophia Olsson and Kevin Douglas’ appointment as lead plaintiffs in separate class action suits filed in the United States relating to its multi-billion budget overrun. | TyronePiad /PDI
Read more »
Nickel Asia, Shell tie-up eyes 650 MW of clean energy capacity by 2025The partnership between mining company Nickel Asia Corp. (NAC) and the Shell Group is aiming to reach 650 megawatts (MW) of renewable energy capacity by 2025. Emerging Power Inc. (EPI) CEO Ronaldo
Read more »
Tanduay’s 2022 income up 18% | VG CabuagTanduay Distillers Inc., the liquor maker of tycoon Lucio Tan, said its income last year reached P1.42 billion, 18 percent higher than the previous year’s P1.24 billion. Consolidated revenues, meanwhile, rose 26 percent to P31.6 billion. “We can say that we have overcome the challenges of the past years and…
Read more »
BDOI offers dog, cat protection package | Roderick AbadBDO Insurance Brokers Inc. (BDOI) recently launched its pet dog and pet cat insurance plans based on its executives’ view of an uptick in animal ownership in the country. BDOI General Manager Maria Theresa L. Tan told reporters at the insurer’s event in Mandaluyong City that after searching for products…
Read more »