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Waterfront looks at Bohol for expansion


By Irene Sino Cruz
Visayas Bureau
Last updated 11:33pm (Mla time) 08/26/2007


CEBU CITY--The Waterfront Philippines Inc. (WPI) is looking at Bohol as a potential site for expansion.

WPI director Kenneth T. Gatchalian noted that the company has been looking for possible areas of expansion as the tourism industry has been on an upward trend.

Gatchalian said, in an interview, they considered Bohol the more lucrative destination due to its proximity to Cebu, a major tourist destination.

However, WPI chairman Renato B. Magadia said the short-term plans of the company would be to upgrade the existing facilities, and acquiring additional properties would be a long-term goal of the company.

Magadia also reported that the company posted P18.24 million in consolidated net income for 2006. However, this was lower than the consolidated net income of P42.96 million registered in 2005.

The company's total revenues in 2006 reached P1.913 billion, up from P1.804 billion in 2005.

The bulk of WPI's revenues came from the hotel operations, which reached P1.85 billion.

Of this amount, P646.171 million came from the group's room revenue while P629.964 million came from the food and beverage division.

Meanwhile, Gatchalian said the marketing team of the Waterfront Cebu City Casino Hotel Inc. would have to go on an aggressive campaign to increase its revenues from the convention and events market segment.

He said the WPI would upgrade the facilities of WCCCHI's convention center as well as come up with more attractive packages to attract more clients.

Meanwhile, the WPI posted P422 million revenues from its hotel operations in the first quarter of 2007, a 12.7-percent decrease from the figures of 2006's first quarter.

The company attributed the decrease of revenues to the 29-percent increase in costs and expenses.

The average food cost increased by 5.13 percent from 2006, the company said.

The company's occupancy percentage also went down to 67.97 percent as compared to 2006's first quarter rate, a decrease of 7.25 percent.

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Group to build RP’s first seven star hotel
By Ma. Elisa P. Osorio
Monday, October 8, 2007

A joint partnership of Filipino and Chinese businessmen will build the country’s first seven star hotel possibly in The Fort or in the reclaimed area in Roxas Boulevard.

“The seven star hotel will be similar to the one in Dubai,” Susan Barlin, co-founder of the CEO Club Philippines, said in an interview.

The project dubbed as the Pentominium, will be a combination of retail outlets, offices and penthouses.

The 35-story luxury hotel is an exclusive hotel given that the occupants will mostly be members of the CEO club. “They will use the hotel whenever they visit here either for a vacation or business,” Barlin explained.

According to her, the group is in the process of choosing a possible location. “We are considering two areas but we prefer to build at The Fort,” she added.

In The Fort, Barlin said they are negotiating with two parties. One land they are eyeing is government owned while the other is owned by a private entity.

Barlin explained they would need at least 2,000 square meters for the seven-star hotel. If everything falls into place, she said ground breaking will be scheduled for the first quarter of 2008.

The Pentominium is one of the eight hotels the 13 man Chinese business delegation visiting the country is considering building.

The other hotels will be in tourist destinations like Bohol, Palawan, Tagaytay and Cebu. The rest of the hotels will be five star hotels.
Meanwhile, Barlin said the botched broadband deal between the government and China did not dampen the Chinese’s desire to invest in the Philippines.

“We are making new deals. We do not want to let politics interfere with progress,” she said.

Aside from hotels, Barlin said the visiting Chinese investors are also interested in developing a retirement destination for Chinese elderly in one of the islands.

“The Chinese would like to develop a retirement destination in the Philippines. They would like to build first class amenities in a beachfront property for their elderly,” she said.

She said in two years time, the country has the opportunity to earn $40 billion from the retirement industry which include income from tourism.”The children of the retirees will want to visit their parents and then take some time off themselves,” she said.

According to her, the infrastructure needed for the Chinese Village will take two years to build. However, the benefits from tourism will accrue immediately.

The amenities for the Chinese Village will be strictly first class. The island will have its own airport, hospital, hotel, nursing home and other facilities to make the retirees comfortable.

The Chinese only island will cater to the parents of the Chinese elite which makes up 10 percent of the entire population.

Beijing Capital City Real Estate Development Co. Ltd. is interested in building the project with a Filipino partner.

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US affirms partnership with Bohol
Launches health, environ projects



TAGBILARAN CITY, Bohol — The United States of America reaffirmed its commitment to the development of Bohol when it launched here two major activities to enhance environmental governance, strengthen environment management, and promote sustainable tourism.


No less than US Ambassador to the Philippines Kristie Kenney represented the people of America through the United States Agency for International Development (USAID) when she personally graced the launching here of Linking Initiatives and Networking for the Control of Tuberculosis in Children (TBLINC) and Going Green, an environmental tool kit for the tourism sector.

Provincial Health Officer Rey Moses Cabagnot said the USAID choice to get to Bohol was based on Bohol’s track record in implementing health programs aside from the fact that it still rates high among the provinces with TB incidence in children.

In her keynote address at the double launch held at the Metrocenter, Ambassador Kenney who was visibly elated upon her first visit to Bohol, pointed out that her coming would be marked by significant partnerships, innovations, and celebrations for the future.

On the USAID assistance, she called it an innovation in partnership in getting to the problem of TB control coupled with Bohol’s commitment to protect the environment.

Moreover, she cited Bohol initiatives of giving better health as a key move to protect the children whom she considers as Bohol’s greatest resource for the future.

Gov. Erico Aumentado told the ambassador that all the Bohol initiatives were geared towards poverty alleviation, which he sees as the root of all social ills. He said the new partnership with the US government would without doubt propel Bohol to its vision of development through eco-cultural tourism.

Kenney also turned over the Going Green Toolkit, an environmental tool to guide tourism sector stakeholders in taking up the environmental responsibility.

"Tourism is the fastest growing industry in the world. In Bohol, many of our tourist sites are famous for their outstanding natural beauty. Tourists come for the beautiful scenery and extraordinary experience, so it makes sense for the tourism sector to look after its lifeline — the natural environment," said David Valdez, president of the WWF Philippines.

Kenney also signed the memorandum of agreement for the US government to partner with Bohol in a Child TB control which the USAID funds. Signing the document with her were LMP president Exuperio Lloren and Governor Aumentado. (Mars W. Mosqueda Jr.)

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