Red Planets Hotel, a Bangkok-based hotel investment company with a chain of hotels operating in the Southeast Asian region has acquired a 4,452 sq.m. lot along CM Recto, Cagayan de Oro City, more specifically the former gasoline station right beside the Coca-Cola Bottling facility.

As reflected in the company’s website (http://www.redplanethotels.com), the company had just purchased the property last month and has a target opening of October 2012.

The Cagayan de Oro development is just the 4th in the country for the company which has partnered with Malaysia-based Tune Hotels. We’ll keep you updated as soon as the perspective of the proposed hotel is published in the said website. But certainly, the hotel will look like something like this Tune Hotel in Angeles City.

Another welcome hotel investment in the city.

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