User:Cebu's Next Big Leap, Travelers Eyes New Integrated Resort

Travelers International Hotel Group is reportedly planning to set up a large new venture in Cebu, the Philippines, in an ambitious move to expand its gaming and leisure portfolio. The project, worth around $16.9 billion (W300 million), is poised to strengthen its presence across the Philippines.

Travelers International is the developer of Newport World Resort (formerly Resort World Manila), the first integrated tourist resort in the Philippines.

Called Mactan World Resort, the integrated resort (IR) will occupy a major 30-hectare site within Mactan Newtown Township, which is currently being developed by MegaWorld. The strategic location is located just 20 minutes from Mactan-Sebu International Airport, making it more accessible to international visitors.

Extending to Cebu: Strategic Action:

Local newspaper Sunstar Cebu was said to be the first to disclose details of the proposal, following travel agency executive director Georgina Alvarez's announcement to the local government last month. The development plan garnered significant local support, and the local government issued a resolution recommending Mayor Junard "Ahong" Chan issue "no objection" certificates to facilitate the project's progress.

Mactan World Resort will feature a variety of facilities, including luxury hotels and casinos. The resort is expected to generate significant economic benefits, with real estate and business tax levies expected to be around $243 million ($4.3 million) over the next five years.

AP Securities analyst Alfred Benjamin R. Garcia shared the insights with InsiderPH, highlighting the strategic advantages of the region. He noted, "This could be a chance for [travellers] as we can say we're late for the entertainment city party and it would be difficult to gain market share in the existing integrated resorts of entertainment city." Garcia highlighted Cebu's appeal, which ranks second behind Manila, with 17% of all inbound tourists flocking to the Philippines. He added, "The proximity of Mactan Newtown to Mactan's international airport could be beneficial for attracting VIPs." 안전한 카지노사이트

Traveler's broad view:

According to a report by Inside Asian Gaming, AGI CEO and Travelers Chairman Kevin Tan detailed the company's expansion strategy in an interview on the cover of the latest issue of Inside Asian Gaming. Tan gave an optimistic outlook on the venture beyond Metro Manila, citing the competitive nature of the existing market. "I think the opportunity to grow in this segment is to open up outside Metro Manila. I think Metro Manila is already quite saturated and highly competitive. Even Clark is very competitive. But beyond that, I think that's the opportunity," he explained.

Cebu already has Nusta Resorts & Casino, and the Dennis UY-led PH Resorts Group is actively raising funds to complete the Emerald Bay project, adding to the region's competitive casino environment.