Waterfront Cebu set for P300M renovation

CEBU, Philippines - Waterfront Philippines Inc., (WPI) is spending P300 million for the three-phase major facelift of its flagship hotel Waterfront Cebu City Hotel and Casino.

WPI vice president for special projects Weslie Gatchalian announced the multi-million-peso renovation of its largest hotel establishment, starting with the physical improvement of its lobby and wash rooms, convention center facility, and other service outlets inside the hotel.

According to Gatchalian, this year starts with exciting times for Waterfront, re-enforcing its position as the all-in-one entertainment and accommodation complex in Cebu.

“We are extremely excited to embark on this multi-million-peso renovation project because this will further enhance our product and service offerings that will eventually yield to better guest experience and revenues,” he said.

After the three-phase renovation will be completed next year, the hotel is also planning to renovate its 170 standard rooms by 2013.

The 560-room hotel, the largest hotel facility of the WPI chain of hotels, is capitalizing on the growing interest of both domestic and global MICE (Meetings, Incentive, Conference, and Exhibition) market.

Because of this, the second phase of the renovation project, will be dedicated to further improve its 16,000 square-meters Convention Center, of which a dedicated entrance for the convention facility will be installed.

Gatchalian said the budget will be sourced out from internally-generated funds of the company.

Also, Gatchalian bared plans to improve its mezzanine to give way to PAGCOR’s expansion plan within the hotel, of which the entire mezzanine area will be utilized.

“Our lobby will be grander and more luxurious than it is now. It will be the first time Waterfront will be renovating its lobby in over 10 years—a feature of the hotel that repeat guests have grown to appreciate and identify with. It is both challenging and exciting prospect,” said Waterfront general manager Marco Protacio.

WPI through its Waterfront Hotels and Casinos brand name is so far the largest Filipino-owned chain to hotels in the Philippines today. It operates five first class hotel-casino properties located in the major cities in the country.

Its properties include; Manila Pavilion Hotel & Casino, G-Hotel by Waterfront in Metro Manila, the two properties in Cebu Waterfront Cebu City Hotel and Casino, and the Waterfront Airport Hotel & Casino Mactan, and the Waterfront Insular Hotel Davao.

Cumulatively, the group runs close to 1,600 guest rooms, and employs a total of 1,670 employees, and has over 13,500 square meters of convention and gaming space.

Last year, the company’s un-audited financial statements registered P1.8 billion in gross revenues, with gross operating profit of P656 million and a net operating profit of close to P100 million.

Its flagship Cebu City Hotel contributed 41 percent of the company’s over-all gross revenues as of 2010. (FREEMAN)