Image via WikipediaAlliance Global Group, Inc. (AGI) is expecting to invest an additional $1.35 billion over the next five years for its two hotel and gaming complexes in Metro Manila to boost its capacity to about 5,600 rooms from the current 1,226 rooms.
“At this point, we have invested maybe $650 million in Resorts World Manila. Within the next five years it will grow to $1 billion,” said AGI president Kingson Sian in an interview after the firm’s annual stockholders’ meeting.
He added that, ‘if we're going to spend a billion in RW Manila, for sure, minimum, its a billion on the other side (Pagcor Entertainment City) because its a much bigger site.’
“We're quite positive and excited about the prospects of tourism. There's a lot of us investing and that’s what you need. You need to create scale, you need to create diversity,” Sian explained.
He noted that most of their capital expenditures will be used to build non-gaming facilities such as hotels, conference centers, more high-end retail space.
“We're creating more capacity because we need more room to attract more tourist to come,” Sian said adding that they will build two more five-star hotels in RW Manila, two budget hotels and a six star hotel which will be an extension of Maxims. They will also expand the Marriott Hotel by 100 rooms.
For Resorts World Bayshore in Pagcor City, Sian said they will also prioritize the construction of hotels once their masterplan is completed.
http://mb.com.ph/articles/335072/agi-invest-135b-more-metro-manila-tourism-projects
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