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