Cokaliong inaugurates first hotel venture

CEBU, Philippines - After making waves in the shipping and textile industries, the Cokaliong family of Cebu now ventures into the hospitality sector through its subsidiary Christerton Properties, Inc., which recently inaugurated its first project, the mid-rise Bayfront Hotel Cebu.

Amid the rising demand in the industry, the sector has become attractive to new entrants who have transformed the industry into a thriving ground for intense competition.

Charlton C. Cokaliong, managing director of Christerton Properties, Inc., said the hospitality sector still showed a rising demand specifically from the middle class market and MICE (Meetings, Incentives, Conferences, and Exhibitions) market.

CPI is a subsidiary of Cokaliong Shipping Lines, Inc. and Chester Enterprises, Inc.

Diversifying investment

In an interview, the managing director said the Cokaliong family wanted to diversify its investment in the hotel industry.

Gregoria C. Cokaliong, president and chairperson of the shipping company, shared the family first ventured into textile and ready-to-wear enterprise in 1969 through Chester Enterprises, Inc.

It eventually invested into the shipping business in 1989. The maritime service operator is presently operating in the Visayas and Mindanao.

Charlton revealed the growing hotel industry in Cebu and the building of the new Mactan Cebu International Airport also pushed the family business to invest in another industry.

"We're sure that the new airport would bring up business and visitors here -- more flights from Cebu to other cities," he said.

He added the property firm planned to develop projects in the future, but declined to disclose the number of real estate developments.  (FREEMAN)