Cagayan de Oro hotels picking up in 2010 in Northern Mindanao

Cagayan de Oro City Hotels are now picking up in this part of Northern Mindanao as new promising hotels are also joining the friendly competition.
Right now a condotel, a combination of condo and hotel is expected to rise soon in the city of Golden Friendship.

The local developer of this first condotel in Cagayan de Oro said a 48-unit condotel will rise in uptown Cagayan de Oro, specifically located at the bustling area near Pueblo de Oro and Xavier Estates. The location is also a few minutes only from the domestic airport.

In a condotel type, a customer who buys a unit during the pre-construction phase has the potential of earning exponential income due to price appreciation, by having the units rented out like regular hotel rooms. It is really a great return of investment for the investors (ROI).

Based on its website, the city’s uptown condotel will be a commercial glass tower and it will also have a lot of amenities including front desk (reception) concierge, lobby lounge, coffee shop, Filipino and internationally-themed restaurants, business offices, retail outlets, spa and a 24-hour nurse on standby.


In another development, Security Bank Corporation (SBC) and Cagayan de Oro-based Limketkai Hotel & Resort Corporation (LHRC) recently signed a Php 750-M term loan partnership to fund the construction of an 18-storey, 224-room hotel and resort development project within the company’s 30-hectare commercial complex in Cagayan de Oro City. Limketkai Hotel & Resort Corp. will start construction this year and is expected to be operational by late 2011 or early 2012. Upon completion, the hotel will dominate the cityscape as the tallest structure in Mindanao.


Senior executives from both parties were present during the recent signing ceremonies held at the Security Bank corporate headquarters in Makati City. They were: SBC senior bank officials - Jeanette S. Keh, FVP – Banking Center Group Head, Patricia May T. Siy, EVP – Commercial & Retail Banking Segment Head; and President & CEO Alberto S. Villarosa; with LHRC Alfonso U. Lim – President & CEO, Albino U. Limketkai- EVP & COO, and Lorenzo U. Limketkai, VP & General Manager. - with a report from cdodevwordpress.com

Hotel exec sees bright future for Cagayan de Oro hotels in 2010

PLAYERS in the hotel industry in Cagayan de Oro are optimistic that as the slowdown in tourism slowly regains momentum following the global financial crisis that badly hit major business sector, this year would be promising with new developments and projects already on the pipeline.

Mr. Pedrito Quiamjot, resident manager of Pryce Plaza Hotel, said that while it might be too early to conclude, but 2010 looks better compared to last year.
“Our hotel occupancy rate averaged 47% percent in the first two months of the year and this is an indication that the world’s travel market seems to have really started to pick up,” Quiamjot said.
In order for Cagayan de Oro hotels to break even, room occupancy must be within 42%, Quiamjot said.
With the summer season getting nearer and election spending peaking up, hotels are bracing for hectic bookings from political candidates for their campaign sorties.

“We are also looking forward for the opening of the Laguindingan International Airport which would certainly bring in more guests and foreign visitors,” Quiamjot said.
Among the emerging top foreign markets are the Koreans, Balikbayans and Japanese which comprised the top three tourist arrivals in the city.

“This year, we expect tourist arrivals to increase by about six percent, a significant improvement from the 3.4% hike recorded last year,” he added.
“Most of the foreign visitors come here for leisure, with eco-tourism as our main advantage, and business-related transactions coming in second,” said Quiamjot.

With the upcoming 18-storey 224-room hotel and resort development project still under construction at the Limketkai’s 30-hectare commercial complex, Quiamjot said this is good for the hotel industry in Cagayan de Oro since this development would entice more visitors, foreign and domestic, to come to the city.

“This is not a treat to us [hoteliers] but a welcome development,” he said.
The Cagayan de Oro-based Limketkai Hotel & Resort Corp. has entered into a P750-million term loan partnership with Security Bank Corp. (SBC) to develop the hotel, which is expected to open for commercial operations in late 2011 or early 2012.

Upon completion, the hotel will dominate the cityscape as the tallest structure in Mindanao.
Cagayan de Oro hotels are now capitalizing on the bullishness manifested by the region’s robust tourism and business industries by attending international trade fairs and coming up with more value-added services for their guests.

Ms. Maricar Vasquez, Apple Tree Resort and Hotel manager, said that hoteliers are constantly upgrading their services to fit to the needs and tastes of their guests.
“We need to provide comfort and best ambiance to our clienteles,” Vasquez said as she boasts Apple Tree’s relaxing place which is situated along the famous Opol beach-line.
But Vasquez admitted that the local hotel industry was severely hit by the effect of the infamous Maguindanao massacre with several bookings cancelled.
She cited the already scheduled PAL International Golf Tournament supposedly to be held at the Pueblo de Oro Golf and Country Club last month with foreign players expected to participate.
“Unfortunately, the international golf event was cancelled and eventually moved to Bacolod City after many countries issued their respective travel advisories for their citizens against travelling to Mindanao because of that incident,” Vasquez noted.
“We lost by the million due to cancelled bookings,” she said.
But Vasquez brushed aside the temporary setback and expressed her positive outlook for the year.
“Hopefully, this year we will all be fine,” she said.
Recently, Department of Tourism Secretary Ace Durano pointed out that Cagayan de Oro has the fastest growing sector in adventure sports and eco-tourism.
“I think there’s no region in the country today which can match Cagayan de Oro and Northern Mindanao in these niche markets,” Durano stressed. – LEN VELASCO

Why stay at Pryce Plaza Cagayan de Oro?

While it’s true that there’s a lot of Cagayan de Oro hotels in this booming and blossoming city but we guarantee that you’ll appreciate your stay in our hotel since we have lots of amenities you can enjoy.

The following are among the major reasons why you should choose Pryce Plaza Hotel when you’re in Cagayan de Oro City...Read More

about

PRYCE CORPORATION

Pryce Corporation, the company behind Pryce Plaza, is a property holding and real estate development company, founded on September 7, 1989. Currently, it concentrates its operations in Mindanao. Its developments include upscale residential subdivisions, condominiums and commercial properties; it is also into the development of memorial parks.

Pryce Corporation also owns Pryce Gases Incorporated (PGI), a subsidiary that imports LPG and produces industrial gases, and sells them through a wide distribution network in the Mindanao and Visayas region. Pryce Gardens' steady growth in the real estate industry and PGI's financial resilience and growing presence in the LPG industry assure our customers that their investment has the backing and support of a strong, stable organization.

The company has also become the leading memorial park developer in Southern Philippines. It has eleven (11) first-class memorial parks located in strategic cities and towns in Mindanao. With this rapid expansion, Pryce Corporation now have the Philippines' largest network of memorial parks.

Pryce Corporation has involved itself in many commercial property projects, residential subdivisions, hotel operations, and socialized housing projects. These are shown below:

Davao City, Mindanao:
• Villa Josefina Resort Village, a 41.2-hectare beachfront subdivision
• Villa Josefina Subdivision, a 6.5-hectare residential enclave in busy Matina crossing
• Pryce Business Park, Davao City's first business park
• Pryce Tower, Mindanao's first high-rise office condominium
• St. Joseph Homes, a socialized housing project

Cagayan de Oro City, Mindanao:
• Pryce Plaza, an 81-room first-class convention hotel;
• Puerto Heights Village, a 15-hectare upscale residential subdivision;
• Mindanao Homes, a socialized housing project

Iligan City, Mindanao:
• Pryce Business Park-Iligan, an 8.5-hectare integrated commercial and business district

Pryce Plaza Cagayan de Oro packages

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Why stay at Pryce Plaza Cagayan de Oro?

While it’s true that there’s a lot of Cagayan de Oro hotels in this booming and blossoming city but we guarantee that you’ll appreciate your stay in our hotel since we have lots of amenities you can enjoy.

The following are among the major reasons why you should choose Pryce Plaza Hotel when you’re in Cagayan de Oro City.

The Businessman’s Hotel

Pryce Plaza has become a symbol of elegance and prosperity in this business city of Northern Mindanao. Inaugurated on April 27, 1991, Pryce Plaza Hotel welcomes visitors with confidence and distinction. It has always prided itself on being the ideal businessman’s hotel. Nearly all 81 guest rooms and suites at Pryce Plaza, you will have a view over Macajalar Bay and the city.

At Pryce Plaza, we take care of your needs, so you can look after your business.

The Ideal Venue for Meetings

The perfect Cagayan de Oro venue to combine business and pleasure, Pryce Plaza is ideal for business meetings, banquets, conventions and weddings.

The hotels selection of function rooms includes the Grand Mindanao Ballroom that can be divided into three separate rooms for smaller events. Equipped with state-of-the-art facilities, complete business amenities, and a highly trained and amiable staff truly makes Pryce Plaza Hotel the perfect place to do business and pleasure in booming Cagayan de Oro.

In Exquisite Dining

Setting the contemporary standards in cuisine, Pryce Plaza’s restaurants offer the finest dining experience coupled with an array of international cuisine at Cafe Cagayan. Guests can also relax by the hotel pool and relish the sumptuous display of grilled seafood and barbecued dishes at Josefina’s and enjoy stunning views of the city lights.

Rejuvenate and Invigorate

For guests wanting to maintain a beauty and fitness regime, Pryce Elite Spa and Fitness Club features a high-tech GYM, exclusive massage rooms and saunas.

Welcome to Pryce Plaza Cagayan de Oro!

Pryce Plaza Cagayan de Oro is a four-star hotel in Cagayan de Oro City, Philippines. We invite everyone to stay in our hotel when you’re in our city and enjoy all our amenities. We have the best rates in town!

We are only a few minutes ride to the airport, downtown Cagayan de Oro and malls.