Alliance Global Group to Expand with New Resorts in Cebu and Boracay
Kevin Tan, President and CEO of Alliance Global Group (AGI) and Chairman of Travellers International Hotel Group, has confirmed that the company will expand beyond Manila with the development of two integrated resorts, in Boracay and Cebu.
Boracay, Phillippines. Alliance Global Group to develop two new integrated resorts in Philippines.
LISTEN TO THIS ARTICLE:The announcement followed reports that Travellers would invest around $300 million into a casino resort within AGI’s 30-hectare Mactan Newtown township in Cebu. However, during his keynote speech at the IAG Academy Summit at Newport, Tan revealed that the budget for the new “Mactan World Resorts” is expected to be closer to $400 million. The project will include both a hotel and casino, with an anticipated opening in 2026.
Tan explained that after it has been built, the gaming and leisure hub will create more than 5,000 new jobs for the residents of Lapu Lapu City and nearby cities in Cebu.
Related: Philippines Gaming Revenue to Double by 2028, Asserts PAGCOR Boss
Plans for Boracay World Resorts
AGI is also setting its sights on entering Boracay with new plans to develop “Boracay World Resorts” within its 150-hectare Boracay township. The township already features an 18-hole golf course, a 1-kilometer private beach, and nearly 2,000 hotel rooms. Travellers will be adding a new integrated resort featuring free-standing villas and hotel suites, which, Tan noted, will merge Boracay’s natural beauty with the sophistication of a modern resort experience.
In a recent interview, Tan said that AGI is well-positioned to leverage its land holdings throughout the Philippines, largely due to its real estate development arm, Megaworld. He mentioned that Boracay is high on their list of priorities.
We are well situated in high-traffic tourist areas or tourist destinations in the Philippines and that gives us tremendous opportunity to expand wherever we feel the market would need us. We’re very excited about Boracay … that’s the next resort that we will probably be opening. We are already in the planning stages. It’s not going to be massive, but I think it’s just right for the market there. It’s located in our flagship township, Boracay Newcoast. It’s the only resort on the island with a golf course, and it already covers 10% of the island.
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Metro Manila Market Saturated
Tan explained that the company’s focus will be on expanding outside of Metro Manila as he believes the capital’s market is saturated. This may be in parts due to the jump in number of land-based gambling venues, as well as the rise in popularity of online casinos PH.
He believes that the Philippines is “filled with beautiful tourist destinations that are just waiting for investments like this”. He added that an integrated resort with world-class amenities and hotel rooms can provide a major boost to the local economy.
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