MANILA -- Torre Lorenzo Development Corp. (TLDC) is diversifying its projects outside major cities in the country with its Dusit Princess Lipa Hotel project in Lipa, Batangas.
In a press conference Wednesday, TLDC Chief Executive Officer Tomas Lorenzo revealed the company’s partnership with Dusit International to build the first international brand hotel in Lipa City and also the entire province of Batangas.
Lorenzo said TLDC has seen Lipa as a fast-growing market for luxury hotels, noting the demand from overseas Filipino workers (OFWs) who are living in Batangas.
Lorenzo added that the Dusit Princess Lipa Hotel is within Tierra Lorenzo Lipa property, also a premium residential condominium development of TLDC in southern Luzon, which many of the takers are OFWs.
The group targets the completion of the premium hotel project in Lipa by 2021.
Dusit Thani Philippines, Inc. President and Vice Chairperson Evelyn Singson said Dusit Princess Lipa Hotel will change the landscape in the city, as this will provide world-class services to tourists and promote Batangas -- particularly Lipa City -- as a tourist destination.
Singson said Lipa boasts its rich history, old houses, food, the famous Taal Lake, and also has golf courses which are attractive not only to local tourists but to foreigners as well.
“We are building them (hotels), so that people will come,” Lorenzo said.
Moreover, TLDC and Dusit will be opening dusitD2 Hotel in Davao City by the end of 2018, followed by the turnover of residential units of Dusit Thani Residences Davao.
Both projects are within its Davao luxury complex in Lanang, Davao City.
Diversifying outside the metro, the partnership also covers Dusit Thani Hotel at Lubi Plantation in the Davao Gulf.
“We intend this to be a destination island,” said Singson.
“It’s very similar to what we have in Maldives,” she added.
Meanwhile, TLDC Chief Finance Officer Emmanuel Rapadas said the company is investing some PHP9.4 billion for its projects in Batangas and Davao -- PHP3 billion for the Dusit Princess Lipa Hotel and the three residential buildings in Tierra Lorenzo Lipa; PHP4.5 billion for dusitD2 Hotel and Dusit Thani Residences Davao; and PHP1.9 billion for Dusit Thani Hotel at Lubi Plantation. (PNA)
