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International hotel chain Marco Polo has firmed up plans to put up a five-star hotel in the Ortigas central business district, yesterday inking a deal with property developer Xin Tian Ti Development Corp. (XTT) of businessman Samuel L. Po ahead of the 2014 target opening.
“We are delighted to [announce] the addition of this hotel, located in the prime location of the capital of the Philippines,” Marco Polo Hotel President Steve Kleinschmidt said of the P3-billion Marco Polo Ortigas following the signing ceremony held in Makati yesterday.
“Our rapid growth and development in the Philippines and China has further strengthened our brand and its awareness throughout Asia-Pacific.”
Located along Meralco Avenue near the Union Bank Building, Marco Polo Ortigas will be the hotel chain’s third property in the Philippines.
The other two hotels are located in Cebu and Davao.
Mr. Kleinschmidt said next to China, the Philippines has the most number of Marco Polo hotels in Asia. There are currently seven Marco Polo Hotels in China, with five more scheduled to open soon.
Mr. Po said the 32-storey Marco Polo Ortigas is his first foray into the hospitality industry.
Mr. Po is the president of consumer paper hygiene manufacturer JS Unitrade Merchandise, Inc. which makes products with brand names like EQ Dry baby diapers, Charmee feminine protection products, and Dr. P adult diapers.
Marco Polo Hotels is a subsidiary of The Wharf (Holdings) Ltd., a Hong Kong-listed company with core business interests in property and investments in communications and container-terminal operations.
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By Jeffrey O. Valisno
Source: BusinessWorld, May 15, 2012
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