MANILA - A luxury Japanese hotel chain will operate in the country this year through an agreement with Resorts World Manila's owner and operator, the company said Friday.
Travellers International Hotel Group, Inc. (TIHGI) and Hotel Okura Co., Ltd. (Okura) finalized the agreement to operate Hotel Okura Manila with a soft opening targeted in the 4th quarter of 2018, Resorts World told the stock exchange.
Hotel Okura Manila, a 191-room luxury hotel, will be part of the country’s first integrated resort.
“The Philippines, especially Manila, is a very promising market considering the nation’s gross domestic product (GDP) and population size, both of which are growing fast," Toshihiro Ogita, Okura president said.
"The local hotel business is benefiting from these and other favorable trends,” he added.
Aside from Manila, the company also announced the opening of hotel outlets in Phnom Penh and Ho Chi Minh City in Vietnam, Yangon in Myanmar, and Taichung in Taiwan as it expands its portfolio to 100 properties worldwide.