According to Lim, representatives of the Ritz-Carlton and Four Seasons recently attended a World Bank- International Finance Corp. meeting on Boracay.
The World Bank- IFC has expressed willingness to fund the development of Boracay and the nearby town of Caticlan to make it a world-class travel destination.
During the said briefing, Lim said, he met and talked with representatives of Ritz-Carlton and Four Seasons who were interested in looking at possible sites on the island.
The Ritz-Carlton and Four Seasons, Lim said, wants to give competition to Shangri-La which has already started construction on the island.
Because of the Philippines’ numerous tourist attractions and potentials, the PCCI has embarked on its BizTour 5 program which aims, over a five year period, to attract $5 billion in investments which would create five million local jobs to cater to five million international tourists which will generate $5 billion in annual tourism revenues.
Lim reported that in the past two years since the PCCI program was launched, $3.2 billion in tourism investments has been raised, resulting in 2.3 million jobs, attracting 2.68 million tourists and generating $2.26 billion in tourism revenues.
The PCCI, Lim said, is highlighting the tourism industry as a tool for economic development.
However, to achieve its five ambitious goals, Lim said, the PCCI continues to prod the government to address, improve and upgrade five key areas which are air, and land transport facilities, infrastructure development to provide access to tourist spots, accommodation facilities to house tourists and visitors, provide attractions and activities for the tourists.
The Ritz-Carlton has 59 hotels worldwide in 20 countries (37 city hotels and 22 resorts).
Ritz-Carlton has facilities in Bahrain, Canada, Chile, China, Egypt, Germany, Grand Cayman, Indonesia, Italy, Jamaica, Japan, Korea, Malaysia, Mexico, Portugal, Qatar, Singapore, Spain, Turkey, the United Arab Emirates and the United States.
The Ritz-Carlton was established in 1983 with the purchase of The Ritz-Carlton, Boston and the rights to the name Ritz-Carlton. The management company has grown from one hotel to 58 hotels worldwide (18,475 guest rooms) with plans for further expansion in Europe, Africa, Asia, the Middle East and the Americas.
The Four Seasons has 70 hotels in 31 countries and 20 in development.