PHILIPPINES - tourism welcomes US$4 billion in hotel development

eTN, 18-6-2007

The Philippine Department of Tourism (PDOT) announced that due to record occupancy levels in the Philippines leading hotel developers are showing interest. As a result, the country is seeing over $4 billion in investments.“After experiencing high occupancy levels and steadily increasing visitor arrivals in the last several years, the Philippines has caught the attention of numerous major hotel and property developers from all around the globe,” PDOT said.

The PDOT estimates that more than US$4 billion will be slated for hotel development throughout the 7,107-island archipelago, including a much-anticipated hotel complex in the central business district of Makati City in Metro Manila.

>>Full article