Suncity Group to launch its own hotel brand
Monday 03 de May 2021 / 07:04
2 minutos de lectura
(Manila).- Suncity Group is planning to launch its own hotel brand, likely to debut as part of the company’s US$1 billion hotel and casino development in Manila’s Entertainment City.
Inside Asian Gaming understands the hotel brand, whose name is yet to be officially announced, will become a consistent brand through all properties operated by Suncity. The flagship first hotel of the brand will be located at Manila’s Westside City Resorts World where Suncity is majority shareholder in the casino and hotel development, scheduled to open in late 2023.
News of the company’s hotel ambitions represents yet another significant step as it transitions further away from its roots as a VIP operator and into the world of integrated resort operations. Suncity last year held a preview opening of its maiden integrated resort project, Hoiana, located near Da Nang in Vietnam, with plans for a Grand Opening once the COVID-19 pandemic eases.
It is also finalizing designs for the Phase 2 expansion of Tigre de Cristal, located in the Primorye Entertainment Zone near Vladivostok, Russia. Tigre de Cristal is 77.5% owned by Hong Kong-listed Summit Ascent Holdings which is in turn 69.66% owned by Suncity.
The Westside City development is being conducted by a local Philippines entity, Suntrust Home Developers Inc, of which Suncity acquired a 51% stake in 2019 as part of a three-way agreement with Philippines construction giant Megaworld Corporation and Resorts World Manila operator Travellers International Hotel Group.
The project is set to include 400 gaming tables and 1,200 slot machines, while Suncity’s hotel will offer 400 five-star rooms.
The plan for a unified hotel brand to be rolled out across the continent, in the midst of not only the pandemic but other industry headwinds, seems to demonstrate Suncity’s long confidence in and plans for the pan-Asian IR and hospitality market. Only time will tell.
Andrew W Scott and Ben Blaschke
Categoría:Casino
Tags: Sin tags
País: Philippines
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