The Gatchalian family’s Waterfront Philippines Inc. announced a major renovation plan for its hotels in Manila, Cebu and Davao as it aims to capitalize on booming tourism while fending off competitors armed with newer hospitality facilities.
Kenneth Gatchalian, president of Waterfront Philippines, said the group was spending at least P1.65 billion to modernize the Manila Pavilion Hotel & Casino, Waterfront Cebu City Casino Hotel, Waterfront Airport Hotel & Casino Mactan and Waterfront Insular Hotel Davao.
Gatchalian said the plan, which would be funded with internal cash apart from possible debt and equity offers, would involve improving the exterior as well as interior aspects, and retrofitting and upgrading IT systems.
“Competition is very cutthroat,” he said, referring to new hotels like those in the Entertainment City gaming complex along Manila Bay, which has lured business away from Manila Pavilion.
He said initial budget for Manila Pavilion was set at P350 million.