AYALA LAND, Inc. (ALI) is opening its second Cebu City hotel under the Seda brand in January 2020, amid growing demand from tourists and business travelers. Seda Central Bloc will rise within ALI Central Bloc community in the Cebu IT Park business district. The 17-storey hotel will have 214 rooms, including 48 serviced residences. In a statement, Andrea Mastellone, senior group general ma...
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CEBU Landmasters Inc. (CLI) intends to further strengthen its presence in Western Visayas with the development of a P1.5 billion residential condominium project anchored by high-visibility retail spaces in a strategic Iloilo City location. The listed firm recently signed a joint venture agreement with businessman Alfonso Tan, chairman of International Builders Corp. (IBC), for a high-rise resid...
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CEBU Landmasters, Inc. (CLI) is issuing corporate notes to raise P2 billion to fund its capital expenditures and general corporate expenses. The listed property developer said in a stock exchange disclosure yesterday it has signed a notes facility agreement with ALFM Peso Bond Fund, Inc. and ALFM Money Market Fund, Inc. for the 18-month debt security. The notes will have an initial fixed rate o...
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SINGAPORE-BASED hotel management and booking platform RedDoorz is eyeing an initial public offering (IPO) in the country by 2022. “I think, overall, the business goal of RedDoorz is to conduct an IPO… By 2022 or 2023, we should be on our way to creating our business which is publicly listed. That is the general vision,” RedDoorz founder and chief executive officer Amit Saberw...
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GLOBAL hotel chain Marriott International is set to make a comeback in Cebu next year. Nearly two years after it exited its presence in Cebu hospitality industry, the American hotel group announced its partnership with Cebuano firm Prestigio Inc. to open the country’s first Fairfield by Marriott hotel in Mandaue City by the middle of next year. Prestigio is the hospitality arm of the Y...
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A Singapore-based arbitration court has ordered the Bloomberry group to pay $296 million to Las Vegas-based Global Gaming Philippines LLC (GGAM)/ The amount was for arbitral award in the case filed by GGAM which claimed that it had been unjustly booted out of the management of Solaire Resorts & Casino in 2013. Bloomberry, however, said it believed the final remedies award was “fund...
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