CEBU-BASED property developer AppleOne Properties, Inc. on Tuesday said that its new five-star hotel development in Panglao, Bohol is expected to begin construction by next year.
The JW Marriott Panglao Island Resort & Spa is currently in the early stages of planning and development.
The company announced earlier that it had signed another deal with Marriott International to build a five-star hotel in Panglao, its first five-star hotel in the area.
JW Marriott is part of Marriott International’s luxury portfolio and consists of award-winning properties and resort locations around the world.
The deal is the company’s third partnership with the Marriott brand after its Sheraton Cebu Mactan Resort and the Fairfield by Marriott Cebu Mactan.
In line with its development efforts, the company is expected to generate hundreds of new job opportunities for locals in the area.
“Job creation is also one of AppleOne’s major investment goals… We expect to generate similar opportunities for the locals of Bohol with JW Marriott Panglao Island Resort & Spa,” said AppleOne President and Chief Executive Officer Ray Go Manigsaca said in a statement.
Mr. Manigsaca said its earlier developments in Cebu have generated 300 direct jobs from its opening and created new businesses as well.
“We have employed around a thousand Cebuanos through Sheraton Mactan, Mahi Center and other developments,” he added.
Meanwhile, the company said the Department of Tourism has shown its support for the multibillion peso development, which is expected to boost tourism in the area.
It quoted Tourism Secretary Christina G. Frasco as saying: “This first-ever five-star hotel that will soon rise in Panglao, Bohol from a global brand [shows] investor confidence in the Philippines.”
Visitors to the province, both foreign and local, surged to 503,368 in 2022, with nearly 60% of them staying in Panglao, as tourists returned in droves with the easing travel restrictions at the height of the COVID-19 pandemic, the company said.
AppleOne said earlier that is banking on the recovery of tourism as it seeks to expand its hotel portfolio through partnerships with international brands. — Adrian H. Halili