Discovery World builds new resort in El Nido
BEACH resort operator Discovery World Corp. (DWC) is building a new tourism estate in El Nido, Palawan to be called Vanilla Beach El Nido.
In a disclosure to the Philippine Stock Exchange on Wednesday, DWC announced that the group had broken ground for Vanilla Beach, which is owned and will be operated by its subsidiary Cay Islands Corp.
The first phase of the project will have a 120-key hotel, 3,400 square meters of retail space for lease and a beach club. Completion of the project is seen towards the end of 2017.
Succeeding phases will expand the commercial area for lease, the disclosure said.
DWC, which went public in December 2013, operates Discovery Shores Boracay, an upscale resort hotel located in Boat Station 1 of the island of Boracay, Aklan. The company also operates Club Paradise in Dimakya Island, Coron, Palawan. It also acquired Palawan Cove Corp. and Discovery Fleet Corp. in 2014.
