BOI gives perks to 3 hotels worth P1.3B: Ayala Seda, UC-1, 888 Subic
The Board of Investments (BOI) has approved three tourism projects worth P1.13 billion.
Hotel and resort projects of Ayala Land Hotels and Resorts Corp., UC-1 Corp., and 888 Subic, Inc. got BOI’s nod under Special Law List on Tourism Facilities in the 2017 Investment Priorities Plan (IPP).
Ayala Land Hotel and Resort’s P661.9-million Seda Capitol Central in Bacolod City, the firm’s seventh Seda brand hotel, will receive tax and other incentives under the IPP.
The eight-storey hotel with 154 guestrooms is only 20 minutes away from Bacolod-Silay International Airport. It is expected to start operation by January 2018 with 147 personnel..
UC-1’s P267-million Seven Seas Waterpark Resort , which is sprawled in a nine-hectare land in Misamis Oriental, will also receive tax perks. It started its commercial operation last month with 176 employees.
The resort can accommodate up to 2,000 visitors per day. UC-1 targets to receive 280,000 tourists annually.
881 Subic’s P197-million Central Park Reef Resort in Olongapo also got BOI’s approval.
The six-storey beachfront resort has 110 guestrooms and will open in June 2018 with 64 personnel.
“The recent launching of the tourism roadmaps under the Hotel and Meetings, Incentives, Conventions and Exhibitions (MICE) shows we remain committed in collaborating with industry stakeholders to boost tourism in the country,” said Trade Undersecretary Ceferino Rodolfo said.
“That is why we will pursue a proactive and targeted approach to address the challenges of tourism in partnership with the relevant associations, academe and other government agencies. We can build on the competitiveness of this industry and compete with the rest of our ASEAN neighbors,” Rodolfo added. (PNA)