PROPERTY developer Megaworld Corp. is investing P2 billion to build a 12-storey hotel inside the 34-hectare The Upper East township in Bacolod City that it targets to open in 2028.

In a press release on Wednesday, it said the hotel — called Kingsford Hotel Bacolod — will be located between the township’s four residential condominium towers. It will be managed and operated by Megaworld Hotels & Resorts.

“Megaworld is investing P2 billion for Kingsford Hotel Bacolod,” said Cleofe C. Albiso, managing director for Megaworld’s hotels and resorts, in an e-mail.

The hotel will offer around 300 rooms, all with an electronic key card system. Its smallest room is a twin or queen deluxe room at 25 square meters (sq.m.), while its biggest is a curated presidential suite at more than 100 sq.m.

This project is the second hotel under Megaworld’s Kingsford brand and is expected to be an iconic landmark of The Upper East. It will feature four food and beverage outlets — a specialty restaurant, an all-day dining restaurant, a Zabana Bar lounge, and a grill bar.

The hotel will have an executive lounge, which will be exclusive to VIP guests, including those who booked in the higher category rooms.

Kingsford Hotel Bacolod will house a high-ceiling, pillarless grand ballroom that can accommodate 400 people in banquet-style seating. It will also have three smaller function rooms, each with a seating capacity of 80 to 100 persons.

The hotel’s amenities will be on its third floor and will include swimming pools with a pool deck, outdoor lounge areas, a fitness and contemplation deck, a fitness center, sauna and steam rooms, and a kid’s club with activity areas.

“We are bringing the best to Bacolod because we have a very sophisticated market here. More so, we want to help boost Bacolod’s position as a very attractive MICE (meetings, incentives, conferences, and exhibitions) location,” Ms. Albiso said.

On the stock market on Wednesday, shares in Megaworld climbed by three centavos or 1.33% to P2.29 apiece. — Justine Irish D. Tabile