MANILA, Philippines - Marco Polo Hotels and Xin Tian Ti Development Corp. (XTT) have finalized their partnership to develop a P3-billion five-star hotel in Ortigas.
XTT president Samuel Po said the Marco Polo Ortigas hotel is scheduled to be opened by the fourth quarter of 2013.
"Marco Polo Hotels has been known for its excellent services and first-class signature touches, we are incredibly excited to be affiliated with this reputable hotel brand in Asia Pacific for the Marco Polo Ortigas, a P3-billion investment," Po said.
The Marco Polo Ortigas will have 313 guest rooms and suites, plus meeting facilities, restaurants, lobby lounge and Sky Bar. This is will be the third hotel being operated by Marco Polo in the country, after hotels in Cebu and Davao.
XTT is a development corporation established by First SLP Holdings to manage the hotel and tourism-related businesses, with the Marco Polo Ortigas representing its first foray in hotels. First SLP fully owns JS Unitrade Merchandise Inc., which is engaged in manufacturing of baby care, feminine hygiene, and geriatric care products with annual revenues of over $120 million.
Meanwhile, Marco Polo also entered into a trademark royalty agreement with businessman George Ty’s real estate arm Federal Land Inc. to manage an upscale two-tower residential project located near the Marco Polo hotel in Cebu.
"We are delighted to the addition of this hotel, located in the prime location of the capital of the Philippines. Our rapid growth and development in the Philippines and China has further strengthened our brand and its awareness throughout Asia Pacific," Marco Polo Hotels president Steve Kleinschmidt said.
Marco Polo Hotels is wholly-owned subsidiary of The Wharf (Holdings) Ltd; a Hong Kong-listed company with core business interests in property and investments in communications and container-terminal operations.