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GERI rides on tourism to grow hotel business
GERI rides on tourism to grow hotel business
THURSDAY, 30 JUNE 2016 – Global-Estate Resorts Inc. is building more hotels in the next three years to take advantage of a growing tourism industry.
The tourism and leisure subsidiary of Megaworld Corp. is spending P5 billion for the development of more hotels in the next two to three years, banking on the tourism growth with the expected improvement in infrastructure.
In a media briefing after the firm’s annual stockholders’ meeting on Thursday, Megaworld Senior Vice President Jericho Go told reporters that the firm is spending another P5 billion for the development of hotels until 2019, which is part of the P10- billion, five-year capex for hotels which began in 2014.