MANILA, Philippines—The group of businessman Samuel Po has ventured into property development for the first time by investing P3 billion in a new five-star hotel in Ortigas, which will be managed by Marco Polo Hotels.
The 313-room Marco Polo Ortigas Hotel will open by end-2013, the newest five-star hotel in the Ortigas central business district. The hotel, which is now under construction, is located right beside Union Bank building along Meralco Avenue.
Po, president and chief executive officer of Xin Tian Ti Development Corp., also heads JS Unitrade Merchandise, a leading manufacturer of paper hygiene products in the Philippines with annual revenues of over $120 million. JS Unitrade sells baby diaper brands EQ Plus and EQ Dry, adult diapers Caress and Dr. P and female hygiene pads Charmee.
Xin Tian Di and top officials of Marco Polo Hotels signed on Monday the management contract for Marco Polo Ortigas Hotel, which is the third Philippine hotel in Marco Polo’s portfolio. Next to China, the Philippines will have the most number of Marco Polo Hotels in Asia.
“Marco Polo Hotels has been known for its excellent services and first-class signature touches. We are incredibly excited to be affiliated with this reputable hotel brand in Asia-Pacific for the Marco Polo Ortigas, a P3-billion investment,” Po said, adding this investment was his group’s answer to the government’s call for fresh investments in tourism.
In late 2011, the Philippine government launched a new tourism campaign “More Fun in the Philippines” which has been well-received by the local and global markets.
“Our rapid growth and development in the Philippines and China has further strengthened our brand and its awareness throughout Asia-Pacific,” said Steve Kleinschmidt, Marco Polo Hotel president.
Kleinschmidst said this hotel in Ortigas would serve a different market from that of the first two Marco Polo hotels in the country—one in Davao and the other in Cebu.
Apart from the traditional leisure-oriented market, the Marco Polo executive said the Ortigas hotel would cater more to business travelers from overseas.
Marco Polo Ortigas Hotel is thus seen to cover the dearth of five-star hotels close to the Quezon City, Ortigas and Greenhills area.
Marco Polo Hotels is a wholly owned subsidiary of The Wharf (Holdings) Ltd., a Hong Kong-listed company with core business interests in property and investments in communications and container-terminal operations.