DAVAO CITY, PHILIPPINES
Davao City. The biggest city in the Philippines in terms of area, ...
The Philippines being an archipelago have favoured tourist destinations in Luzon, Visayas and Mindanao. In Mindanao, Davao City is the most urbanized area and has been voted as one of the most peaceful, cleanliest and smoke-free cities in the country. It enforces tough laws against criminality and lawlessness that has gained them a reputation of good governance which made them a model city for the country. Davao City is known for their Durian fruit, which is abundantly available whole year round. It has successfully preserved the indigenous tribal communities and their land, giving due respect to their right to co-exist with the locals. It is considered as the trading capital in Mindanao where business is growing strong. Companies like the Ayala group, SM Group and other conglomerates have invested heavily in this region which will definitely spur more economic activity for Davao.
Brand affiliation will definitely give it a big push in the local tourism industry. More so if it would carry a highly reputable brand. In Cebu, the brands like Marriott, Marco Polo, Moevenpick and many more have joined the bandwagon. I do not see any problem with operating the hotel or condominiums for that matter. However, casinos are highly restricted and are managed by the national government thru the Philippine Amusement and Gaming Corp. (Pagcor). With a strong influence of the Catholic Church, putting up casinos can be a sensitive issue in the local community. At this point, the Durian Hotel is non-operational and thus I believe the responsibility of conducting an independent marketing or redevelopment plan will be for the account of the buyer. The bank’s position is basically an outright sale of this particular asset. It is worthy to note that the bank maintains the upkeep of the hotel to ensure that it protects its value and make it a viable investment for prospective buyers. |