Another Korean firm to set up hotel in Subic Freeport

MANILA, Philippines - Another South Korean company is setting up a $1-million hotel in Subic, a move that could further boost tourism in the former US military base. In a statement, the Subic Bay Metropolitan Authority (SBMA) said Korean firm Platinum Sports Subic, Inc. has started work on a four-storey, 45-room hotel on a 5,992-square meter site near the Subic Freeport’s main gate. "This is a benchmark for Subic’s sports tourism program. This hotel will feature facilities primarily geared to sports professionals and enthusiasts, hence the tag ’sports hotel’," SBMA Deputy Administrator for Tourism Raul Marcelo said. The hotel will feature an Olympic-sized swimming pool, state-of-the-art gym, sports shops and a children’s pool. The SBMA said the new hotel would help promote Subic as a major sports destination in the Philippines and other Asian countries. Platinum Sports officials were quoted as saying that the concept was inspired by a similar establishment in Dubai, which has attracted a huge following. They said Subic is an ideal location for a sports hotel because of its strategic location, an environment conducive to sports activities and the security offered by the SBMA. The Olympic-sized pool will be near existing sports facilities there like the Remy Field oval, the Subic basketball gym, and tennis and badminton courts. Construction of the hotel started in May by contractor Vision 3000, with a target completion in December. Mr. Marcelo said the SBMA is continuously improving its facilities to draw more sports-tourism events. It recently solicited proposals to convert an existing golf course to a world-class, professional tournament venue. Several Koreans have announced separate plans to build hotels in Subic, targeting South Korean, American and Japanese tourists. Subic Daesung Corp. (SDC), a Korean property developer, will infuse P890 million for the construction of a 13-storey residential condominium, office spaces and a hotel that will target Korean tourists and retirees. Meanwhile, South Korea’s MGfnd Subic, Inc. and Subic Rexmier C&D Co., Ltd. have signed an investment deal for a P1-billion resort hotel. — Bernardette S. Sto. Domingo, BusinessWorld