Corporate News

Premiere Horizon taps Dusit for Palawan project

Posted on August 04, 2017

A UNIT of Premiere Horizon Alliance Corp. (PHA) is teaming up with Thailand-based hospitality firm Dusit Group for the development of hotels in its West Palawan township.

The Dusit Group currently has one existing property in the Philippines, Dusit Thani Manila in Makati City. Facebook/DusitThaniManila
In a statement issued Thursday, the listed firm said its subsidiary West Palawan Premiere Development Corp. (WPPDC) has signed a memorandum of understanding (MoU) with the Dusit Group to build three of its hotel brands inside the township, namely Dusit Thani, Dusit D2, and Dusit Princess.

The Dusit Group currently has one existing property in the Philippines, Dusit Thani Manila in Makati City. The firm has two more projects in the pipeline with the Dusit Hospitality Management College slated to open in Bonifacio Global City in 2018, and the Dusit Thani Mactan Cebu Resort in 2019.

The hospitality group currently operates 29 properties globally, with more project openings targeted in key cities such as Australia, Bhutan, China, Indonesia, Kenya, Myanmar, Oman, Qatar, Saudi Arabia, Singapore, Thailand, Turkey, and United Arab Emirates.

“The market continues to be strong. We believe this will be an excellent partnership that will enable us to build an outstanding mixed-use township that will offer various lifestyle choices to our target markets,” WPPDC Chairman Augusto Antonio Serafica, Jr. said in a statement.

Signatories of the MoU included Mr. Serafica, WPPDC President Danilo A. Antonio, and Philippine Hoteliers, Inc. President Evelyn R. Singson.

The MoU also includes the possibility of the Dusit Group providing equity for PHA’s master planned project, the 100-hectare North Cove Development.

The North Cove project is part of the company’s plans for its first tourism estate in Puerto Princesa, which will include beachfront and mountainside resorts located 40 minutes away from the Puerto Princesa International Airport.

PHA widened its net loss to P34.6 million in the first three months of 2017, against the P22.3-million loss in the same quarter in 2016.

Shares in PHA gained two centavos or 4.94% to close at 42.5 centavos each on Thursday. -- Arra B. Francia