The ALC Group of Companies is reportedly negotiating to acquire the famed VIP Hotel in Cagayan de Oro City.
The landmark hotel located at the heart of the city is owned by the Canoy Group. See screenshot below as posted in Facebook showing business magnate Antonio L. Cabangon Chua in the city just recently after acquiring Greenhills Memorial Park.
Below was the initial Facebook post last week by Fortune General Cagayan de Oro. The post above just confirmed which hotel was being acquired by the ALC Group.
The ALC Group is a conglomerate engaged in various business activities, such as insurance protection, media, pre-need assurance, automotive, banking and finance, security, education, hotels, and real estate. Among the more popular firms under the group include Fortune Life Insurance Co., Eternal Plans Incorporated, Citystate Condominiums, Citystate Savings Bank, Isuzu GenCars Incorporated, Aliw Broadcasting System, and the national publication Business Mirror.
It was founded by business magnate Antonio L. Cabangon Chua. Read his story HERE.
with screenshot photo by Jaysan Chee