MANILA -- Torre Lorenzo Development Corp. (TLDC) on Wednesday signed an agreement with Dusit International and Dusit Thani Philippines, Inc. for the development of the Dusit Princess Hotel in Lipa, Batangas.
Dusit Princess Lipa is part of the three-tower Tierra Lorenzo project of TLDC, wherein the property developer seeks to invest some PHP2.4 billion.
“Our leisure market partnership with Dusit is very timely, especially with the growth of Philippine tourism industry,” said TLDC President and Chief Executive Officer Tomas Lorenzo said in a briefing.
Scheduled to be completed in 2021, the 152-room Dusit Princess Lipa will be the first international hotel brand in Lipa, Lorenzo added.
He added that the company is optimistic about the growth of tourism in Batangas, including those coming in on pilgrimage.
For Dusit International Group Chief Executive Officer Suphajee Suthumpun, the Bangkok-based hospitality company is fast growing in the Philippines.
Suthumpun said the company has 12 projects in the country, with four more developments to be launched. Three of these projects, particularly in Davao, are in partnership with TLDC, while the other one is its dusitD2 The Fort in Taguig City.
“This shows our confidence (in) the country and the potential itself as well,” she noted.
“That is how significant the Philippine market (is),” added Suthumpun. (PNA)
