Megawide Construction Corp has dropped a plan to develop a casino on Cebu island, though will push ahead with plans for three hotels, local media reports.
Megawide chief corporate affairs and branding officer Manuel Louie Ferrer told the Manila Standard that the company is set to start building the first hotel before the end of the year.
The 350-room hotel, which will be operational over the next two years, will be managed by an international hotel operator.
“There is a huge demand for hotel development in Cebu as well as for MICE [meetings, incentives, conferences and exhibitions] particularly in Mactan,” he told the newspaper.
For the second hotel, Megawide plans to hire an Asian operator, while the third will be one of the company’s own brands. The three hotels, once completed, will have combined 1,000 rooms.
Megawide was previously in talks with Davao-based businessman Dennis Uy to develop a four-hectare property adjacent to the Mactan-Cebu international airport into a mixed-use real estate project with hotel and gaming components.
Uy’s Udenna Corp is pushing ahead with plans to build a separate casino on the island.