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Real estate firm opens first hotel venture

CEBU, Philippines — Leasing and real estate company Sugbu Realty Inc., enters into the hospitality business with the opening of the 101-room Eastland Hotel and Residences.

The 10-storey boutique hotel located in Villa Aurora, Kasambagan targets both transients and long-staying guests offering serviced-apartment type of accommodations.

Resourceworld Management Corporation president Nelba B. Pangilinan said the opening of the new hotel responds to the rising room and serviced apartment demand in Cebu.

Since 1992, the company has been operating 30-units of serviced apartments within the area, the TSE Serviced Apartments, and they noted strong demand for both short and long staying guests.

TSE’s units will be incorporated in the Eastland’s accommodation portfolio.

The opening of Eastland Hotel will mark the company’s full-blown entry to hospitality business, as it is also planning to develop more hotel and condotel facilities in other parts of Cebu province and Mindanao, where it has existing land banks.

“We expanded into hotel type of accommodation because this is the trend now,” Pangilinan said.

The hotel has 60 seating capacity restaurant, and function room for intimate gatherings and small corporate events. (FREEMAN)

Source: https://www.philstar.com/the-freeman/cebu-business/2018/10/12/1859386/real-estate-firm-opens-first-hotel-venture

Tags: Open First Hotel Ventures Eastland Hotel will mark the company’s full-blown Develop develop more hotel and condotel