July 28, 2021 at 07:20 pm
Jenniffer B. Austria
Cebu Landmasters Inc. is expanding its hotel portfolio with the planned development of the P2.5-billion Abaca Resort Mactan.
CLI said in a disclosure to the stock exchange Abaca Resort Mactan would be a luxury boutique hotel offering 125-room all-suite accommodation. Slated for completion by 2024, the hotel will rise on a 4,500-square-meter property formerly occupied by the multi-awarded Abaca Boutique Resort in Punta Engano, Lapu-Lapu City.
CLI purchased the property in 2019 and signed up The Abaca Group to continue operating the hotel to cater to the needs of local and global tourists.
“We have always wanted to contribute towards making Cebu a thriving economic and tourism destination,” said CLI chairman and chief executive Jose Soberano III.
“Abaca Resort Mactan will put Cebu on the radar of this emerging breed of global travelers seeking world-class, authentic and unique holiday experience,” he said.