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Filinvest consortium secures 25-year lease deal to develop 5,700 sqm in Camp John Hay

11
Dec
2020

Filinvest consortium secures 25-year lease deal to develop 5,700 sqm in Camp John Hay

MANILA - A consortium led by Filinvest Hospitality Corp on Wednesday said it was awarded a 25-year lease to develop 5,700 square meters of Camp John Hay in Baguio City.

The lease deal covers the development of a new 200+ room hotel, Filinvest Development Corp said in a statement.

The new property will be the first dual brand property under the Grafik and Quest brands and will be managed by Chroma Hospitality Inc, it said.

"Being the center of the Cordillera Region, Baguio City has always been one of the company’s top priorities. This unique opportunity will allow us to develop a full-service hotel in CJH, one of the most prime locations in Baguio. It offers the whole package exclusivity, nature and panoramic views in the heart of Baguio,” said Francis Gotianun, senior vice president, Filinvest Hospitality Corp. 
 
Gotianun said they believe Baguio will remain a top tourist and business destination due to its unique climate, culture, tourist attractions, and accessibility. Travel time has already been significantly cut with the completion of the Tarlac-Pangasinan Expressway (TPLEX) and will be further reduced once various infrastructure projects are completed. 
 
“This year may be challenging, but we continue to look ahead and see a bright future. The hotel will be ready to welcome guests in 3 to 4 years in line with the full recovery of the tourism sector. As early as now, since the loosening of the lockdown and implementation of more efficient health and safety protocols, we are beginning to see signs of that recovery,” added Gotianun. 
 
The City of Pines, also known as the summer capital of the Philippines now receives 1,000 visitors daily.

Filinvest Land raises P8 billion from fixed-rate retail bonds issue

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