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Banyan Tree Moves into the Philippines in a Big WayMarch 26, 2009 By: Mark Rogers
Singapore-based hotel-and-resort firm Banyan Tree Holdings Ltd. and its partner Salvador Zamora II, a Filipino mining and real-estate magnate, will develop a $200-million integrated island resort on Isla Diwaran in the municipality of Palawan. Diwaran is an uninhabited island with white-sand beaches, coral reefs and prime dive sites. The island resort will comprise three hotels totaling 600 rooms, including one hotel under the Banyan Tree brand. There will also be three spas, a marina and a town center with restaurants and retail shops. The entire project is targeted for completion in 2012. The Philippines Department of Tourism assisted Banyan Bree in choosing Palawan as the choice location for its venture.
“This country has excellent food, natural resources and culture,” said Ho Kwon Ping, Banyan Tree executive chairman. "It already has infrastructure that’s way ahead of its Asian neighbors, but its roads, airports and seaport still need improvements.”