MANILA - Megaworld on Tuesday said it was building a P500-million "luxury boutique" hotel within its 34-hectare The Upper East township in Bacolod City.
An old heritage house will be retrofitted as its main lobby, Megaworld told the stock exchange.
Dominic Galicia, the architect of the redesigned National Museum of Natural History, will design the property firm's new hotel complex.
“As a landmark of Bacolod, it will express the noble intent of remembering and anchoring in a glorious past as we move towards what we dream to be a glorious future,” Dominic Galicia said.
It will feature 48 suites, restaurants, swimming pool, fitness center and its signature hotel bar concept, Zabana Bar, it said.
The property, expected to be completed in 2022, will also house the city's biggest hotel ballroom facility that can fit 1,000 guests, the statement said.
Megaworld Vice President for Sales and Marketing Rachelle Peñaflorida said the firm is keen on helping boost Bacolod's tourism industry.
The development is part of Megaworld P28 billion spending on the Upper East township in Bacolod in the next 10 years.