Discovery World operates Discovery Shores Boracay, a resort hotel in Boracay. The company allotted P575 million for new businesses, including a resort in Palawan.
The leisure development firm is also looking at entering the resort hotel business in Palawan that will feature world-class, five-star facilities for the upper class market.
The company is also allotting P100 million to invest in a cruise business and P250 million to acquire a 20-percent interest in Enderun Colleges, a school offering programs in the field of hotel and restaurant management and culinary arts.
Discovery World is spending P125 million to expand Discovery Shores Boracay starting this year. The company under the plan will construct 15 new bedrooms and villas.
Discovery World posted a net income of P38 million in 2012, down 38.7 percent from P62 million a year ago, even as revenues increased to P366 million from P348 million.
Discovery World will be the third Tiu-owned company to be listed in the PSE.
The Tiu family also owns remittance firm iRemit Inc. and TKC Steel Corp.
Aside from Discovery, iRemit and TKC, the Tiu family owns Sterling Bank of Asia, Discovery Suites in Pasig and Tagaytay and JTKC Land.
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=73847.0
