{"id":7573,"date":"2016-08-30T17:05:50","date_gmt":"2016-08-30T09:05:50","guid":{"rendered":"http:\/\/primer.com.ph\/blog\/?p=7573"},"modified":"2016-08-31T15:21:24","modified_gmt":"2016-08-31T07:21:24","slug":"megaworld-to-spend-p5-billion-to-build-three-new-hotels-in-the-country","status":"publish","type":"post","link":"https:\/\/primer.com.ph\/blog\/2016\/08\/30\/megaworld-to-spend-p5-billion-to-build-three-new-hotels-in-the-country\/","title":{"rendered":"Megaworld to spend P5 billion to build three new hotels in the country"},"content":{"rendered":"<p><span style=\"font-size: 12pt\">As part of Megaworld\u2019s strategy to grow its recurring income, the company will build three new hotels under its third hotel brand, Savoy, which will be worth P5 billion.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-7574\" src=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/08\/Savoy-Belmont.jpg\" alt=\"Savoy-Belmont\" width=\"900\" height=\"669\" \/><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-size: 12pt\">(Image grabbed from <a href=\"https:\/\/www.megaworldcorp.com\/megaworld-to-help-boost-cebus-tourism-to-add-2000-hotel-rooms-in-mactan\/\">megaworldcorp.com<\/a>)<\/span><\/em><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt\">According to Megaworld&#8217;s Senior Vice President Jericho Go, Savoy Hotel is set to open in Boracay, Cebu and Manila.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">\u201cMegaworld is spending P5-billion to build the three Savoy Hotels in Boracay, Cebu and Manila. Part of our goal is to make this hotel brand visible in our other townships across the country,\u201d said Go.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">Boracay Newcoast will have a 530-room Savoy Hotel, envisioned to be a first-class resort hotel which would feature the country\u2019s first concert pool arena, overlooking the Sibuyan Sea.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">The second Savoy Hotel with 684 rooms is set to open in the 25-hectare Newport City in Pasay City by next year.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">The Mactan Newtown in Lapu-Lapu City, Cebu will be the location of a third Savoy Hotel with 18 floors and 547 rooms. It is set to open in 2018.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">Aside from Savoy Hotels, company allocated an additional P3.5-billion for another hotel brand, Belmont Hotels in Boracay and Mactan Newtown, which are also set to open in the same year with 407 and 500-room capacities, respectively. A 126-room hotel is also expected to be opened in the 1,200-hectare Twin Lakes property in Alfonso, Silang Cavite near Tagaytay City.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">Megaworld aims to have around 3,800 hotel rooms under its name by 2020.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">\u00a0<\/span><\/p>\n<p><em><span style=\"font-size: 12pt\">Source: <a href=\"http:\/\/www.entrepreneur.com.ph\/news-and-events\/megaworld-to-introduce-new-hotel-brand-by-year-end-a36-20160828?ref=footer\" target=\"_blank\">entrepreneur.com.ph<\/a>, <a href=\"http:\/\/www.philstar.com\/business\/2016\/08\/26\/1617249\/megaworld-allots-p5-b-build-3-new-hotels\" target=\"_blank\">philstar.com<\/a><\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As part of Megaworld\u2019s strategy to grow its recurring income, the company will build three new hotels under its third hotel brand, Savoy, which will be worth P5 billion. &nbsp; (Image grabbed from megaworldcorp.com) &nbsp; According to Megaworld&#8217;s Senior Vice President Jericho Go, Savoy Hotel is set to open in Boracay, Cebu and Manila. \u201cMegaworld is spending P5-billion to build the three Savoy Hotels in Boracay, Cebu and Manila. Part of our goal is to make this hotel brand visible in our other townships across the country,\u201d said Go. Boracay Newcoast will have a 530-room Savoy Hotel, envisioned to be a first-class resort hotel which would feature the country\u2019s first [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-7573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-current-events"],"acf":[],"jetpack_featured_media_url":"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/08\/Savoy-Belmont-e1472547943499.jpg","_links":{"self":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/7573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=7573"}],"version-history":[{"count":2,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/7573\/revisions"}],"predecessor-version":[{"id":7598,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/7573\/revisions\/7598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media\/7574"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=7573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=7573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=7573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}