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| Photo courtesy of PDI |
A unit of property developer DoubleDragon Properties Corp. is set to build what is touted to be Mindanao’s biggest hotel, a 519-room Hotel 101 with shopping and convention facilities in Davao City.
In a disclosure to the Philippine Stock Exchange on Tuesday, DoubleDragon that Hotel 101-Davao City would break ground in the last quarter of the year and is targeted to be completed by 2020.
Hotel 101 is a brand of Hotel of Asia Inc. (HOA), a subsidiary of DoubleDragon which aims to have a total of 5,000 hotel room portfolio by 2020.
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| Photo courtesy of Trip Advisor |
This will be the third Hotel 101-branded property to be added to its portfolio, following the existing Hotel 101-Manila near Mall of Asia and Hotel 101-Fort, which is already under construction.
The upcoming hotel, a joint venture between HOA and Davao-based W2JP2 Corp., will rise on a 5,300-square meter prime commercial lot located at Eco West Drive at the side of SM City-Davao. It is targeted to offer rooms priced at P2,500 to P2,800 per night.
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| Joint venture partners Lorenzo Jun Te, Sammy Uy of W2JP2 Corp. and Edgar Sia II, Ferdinand Sia of DoubleDragon, on a courtesy call to Davao City mayor Sara Duterte after signing venture to build 519-room Hotel 101 in the city. |
After signing the joint venture deal, top officials of DoubleDragon and W2JP2 paid a courtesy call to Davao City Mayor Sara Duterte.
Apart from its hotel rooms, the upcoming hotel will have a commercial and retail strip, and facilities to cater convention.
source : PDI
