Vibrant travel sector boosts tourism-related investments in RP

MANILA, Philippines - The country's vibrant travel sector has attracted multi-billion pesos worth of investments in tourism development projects, the government said. Data from the Department of Tourism showed that investments in the hospitality, wellness and leisure sectors amounted to P9.1 billion in the first half of the year. The projects include construction of the following tourism facilities: LKY Hotel, (formerly Mayon Hotel) in Legazpi City, Imperial Palace Waterpark Resort and Spa in Lapu-Lapu City, Microtel Inns and Suites in Cabanatuan, Park Bed & Breakfast Hotel & Restaurant in Pasay, and Hotel Kimikarlai in Cagayan, ABC Apartel in Angeles, Hotel Vida Resort Complex in Pampanga, Paseo Premiere Hotel in Laguna, and Bahia de Baler Garden Resort in Aurora. Expansion programs are planned for Shangri-La Mactan in Cebu, Eastbay Arts Recreational Tourism Zone in Rizal; Country Inn Hotel and Restaurant in Cagayan, Manila Ocean Park, Sabin Resorts and Development Corporation in Lapu-lapu; while modernization of Peninsula Manila, Makati Medical City, and The Medical City is set. "These projects confirm the stark investor confidence that the country continuously enjoys. We fully advocate immediate action on said projects to further boost the economy," Tourism Secretary Joseph H Durano said in a statement. Durano also emphasized the significance of tourism developments in opening up other investment prospects involving infrastructures in air, land and water. Ma. Victoria Jasmin, Head of the DOT Tourism Investments Promotions Group and the concurrent director of the Office of Tourism Standards added that, "Construction and completion of these ventures are expected to generate additional jobs as the tourism industry remains one of the biggest employment resources in the country." The expansion of Shangri-La Mactan comprises refurbishing of 111 rooms, including a restaurant, function room, spa, and an outdoor swimming pool. The Peninsula Manila, on the other hand, will refurbish its 294 rooms. Triple class A resort Imperial Palace Waterpark Resort and Spa will build 558 units as part of its condotel accommodation. The LKY Hotel meanwhile, is a deluxe hotel set to construct 115 rooms. Microtel Inns and Suites, will open 50 rooms in Cabanatuan City. Hotel Vida Resort Complex inside Clark Freeport Zone is going to be a deluxe class hotel with 123 rooms, swimming pool, function room, water theme park and convention center. Medical City will construct additional 250 hospital rooms. Upon registration with the Bureau of Investments, tourism endorsed projects are eligible to avail of an income tax holiday for four to six years, and duty-free importation of selected capital equipment for operation of accommodations and facilities. - Cheryl M. Arcibal, GMANews.TV