MANILA - Ayala Land said Friday it would close its Marriott Hotel in Cebu, which will be renovated and re-launched under its own Seda brand.

Once it opens, Seda in Cebu Business Park will be the biggest hotel in the Visayas, Ayala Land Hotels and Resorts Corp said in a statement.

The contract between the Ayala Land unit and Marriot Hotels International will cease by the end of the year, according to the statement.

Another Seda hotel will be built at the Cebu IT Park, AHRC said.