Banyan Tree to put up resort in Palawan

BY ALEXIS DOUGLAS B. ROMERO, Reporter/BusinessWorld Singapore-based hotel and resorts firm Banyan Tree Holdings Ltd. will spend at least $70 million to establish two resorts in Palawan. In a briefing held in Malacañang Wednesday, Banyan Tree Executive Chairman Ho Kwon Ping said the project would be executed through a joint venture with real estate and mining businessman Salvador B. Zamora II, who will serve as its developer. The facilities to be established are Banyan Tree resort, which will have 70 villas, and Angsana Resort and Spa, which will have 150 rooms. Angsana is Banyan Tree’s sister brand. Banyan Tree will provide architectural and interior design concepts for the resorts, which will be located in Dinaran Island in Coron, Palawan. Architrave Design and Planning Co. Ltd. Singapore has been appointed architect and interior designer of the facilities. The project is expected to be completed by 2010. "We are very keen on the Philippines. Its tourism resources are one of the best not only in Asia but the whole world," Mr. Ho said. "We believe the Philippines will grow into an important luxury tourist destination and our resorts in Dinaran will not only enhance our position as a premier resort chain in Asia but will also give us important foothold in a country with tremendous potential," he added. Dinaran is an uninhabited island that has an area of about 55 hectares. It is located south of Manila and is surrounded by white sand. When asked how many jobs would be created by the project, Mr. Ho said he was not yet sure but claimed that a similar project in Phuket, Thailand employed around 4,500 people. Banyan Tree is a developer, designer and operator of hotels, resorts, and spas worldwide. It has interests in 22 resorts and hotels, 62 spas, 65 retail galleries and two golf courses. Banyan Tree Hotels and Resorts, its main brand, has established resorts in Thailand, Maldives, Indonesia, Seychelles, China and Bahrain. Angsana Resorts and Spas has resorts in Indonesia, Australia, India, and Maldives. Mr. Ho said the firm is scouting other sites in the country where it could establish similar facilities but declined to name the places being considered. "We are clearly interested in looking for other areas... We also intend to explore other development opportunities here, and seek out partnerships with local investors," he said.