DAVAO CITY — Tycoon Lucio L. Co plans to have more Acacia Hotels nationwide after opening the third branch here last week, as his company seeks to take advantage of growing tourism to the Philippines. “I am not a hotelier, isa po akong sari-sari store owner (I am a retail store owner)… but I know when I get the best service and accommodation in a hotel,” Mr. C...
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CEBU, Philippines — The 20-hectare seaside township development Mandani Bay builds fully-furnished residential condominiums to keep up with the rising demand for “ready-made” and sophisticated residential condos in Cebu. Mandani Bay development company HTLand, Inc., launched its 36-storey residential tower called Mandani Bay Quay, to complete its phase 2 component. HTLand,...
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CAPITALAND and subsidiary The Ascott Limited is bringing the serviced residence concept to Iloilo City with the opening of the Citadines Amigo. Citadines Amigo Iloilo, the first international serviced residence in the city, is hoping to attract travellers and long-staying businessmen. It has 121 rooms, a fitness center, function rooms, swimming pool, and all- day dining restaurant. “We...
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MANILA, Philippines — Ayala Corp. is taking a $237.5 million stake in the Pun family’s Yoma Group, marking the largest Philippine conglomerate investment in Myanmar. Ayala said in a stock exchange filing on Thursday that the deal will give it 20 percent of the Myanmar conglomerate, which is comprised of two holding companies: Singapore-listed Yoma Strategic Holdings Ltd. (YSH) and M...
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DMCI Holdings, Inc. on Wednesday said it booked a net income of P2.8 billion in the third quarter, 47% higher year-on-year, which was attributed to “normalized coal operations” of Semirara Mining and Power Corp. (SMPC). In a statement, DMCI said core earnings in the third quarter went up 24% to P2.6 billion, excluding the P164-million non-recurring loss from the company’s shar...
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MEGAWORLD Corp. recorded an 11% rise in earnings in the third quarter, as it sustained growth across its business segments. In a regulatory filing, the listed property developer led by tycoon Andrew L. Tan said its attributable net income reached P4.49 billion in the July to September period, driven by a 15% increase in consolidated revenues to P16.4 billion. Expenses, on the other hand, grew 1...
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