The Board of Investments (BOI) approved the application of LIMKETKAI HOTEL AND RESORT CORPORATION for its hotel project in Cagayan de Oro City.
The P1.068 billion project involves the construction and operation of an 18-storey, 224-room Business-Class Hotel located at Limketkai Center along Limketkai Avenue.
The hotel will consist of 210 standard rooms and 14 suite rooms, 648-seat capacity ballroom with 3 function rooms and business center. It will be equipped with state-of-the-art facilities such as grand lobby, fine-dining restaurant, a modern lounge, a swimming pool, gym and coffee/resto bar and other amenities. It will be connected to the Limketkai Mall and Atrium and other developments via the existing elevated walkways at the 2nd level of the hotel. The hotel is expected to be up to par with the business district hotels of Makati City.
The project was endorsed for approval by the Department of Tourism (DOT) on March 4, 2010. Commercial operation is scheduled to begin on July 2013 with 152 manpower complement.
The firm is a wholly-owned subsidiary of Limketkai Sons, Inc. which is lead by Alfonso Lim and Albino Limketkai.
Limketkai Sons is also into agribusiness but its Limketkai Center has raised its profile as a property developer.
The hotel is expected to complement the Center, which is home to the largest and most modern shopping-center complex in Northern Mindanao.
article from Business Insight Malaya