Century Properties Inc. aims to set up its first tourism-еstatе project in Palawan.
Jose EB Antonio, Company Executive Chairman of the Board said the project will be in mainland Palawan.
Century Properties plans to spend “several hundred millions of pesos” for several years to develop the property which will have a hotel component, according to Antonio.
Antonio said they are looking at putting up three to five-star facilities in the project to be managed by reputable hotel operators.
The project is to be launched sometime next year.
Antonio said earlier this year said they were planning to venture into tourism, particularly hotel operations, as part of their expansion.
“We are also looking at being a player in the tourism industry,” said Antonio.
Antonio said the Philippines’ prospects in the tourism segment is very great.
“Why do we believe tourism is a good industry? If you are looking at tourism arrivals in Asia, like the Thai economy, in Thailand they have a population of 65 million, with tourist arrivals of 22 million. Out of that, 15 million go to the island of Phuket. And here is the Philippines, with having tourist arrivals of just 4.3 million, we pat ourselves on the back. We attained a growth over last year but it is actually very minuscule compared to our neighbors,” Antonio said.
“So where is the opportunity? The opportunity is that we have the beaches, the mountains, the people, we have everything that is required and needed by the tourists, except they have nowhere to land. I know that the basis of all businesses, aside from the environment, is infrastructure. So we are looking towards the pronouncements of the government that our infra will come into play very soon,” he added.
Antonio said tourism is the emerging sunshine industry of the Philippines.
“Not only is it an opportunity, but it is actually an industry that trickles down to the last level of society. Because tourism not only compensates the educated who are in the BPO (business process outsourcing) industry but is able to give jobs from the waiters to the tricycle drivers, to the jeepney drivers. This is what the country needs so that growth can be felt. And we would like to participate in this industry in a very active way,” he said.
Source: Malaya | June 27, 2013