Vista Land Forays Into Hotel Business

Villar-led property holding firm Vista Land & Lifescapes Inc. has forayed into hotel business as part of its bid to become a complete real estate company.

“We are now having BPOs (business process outsourcing), malls and now we will start investing in hotels. We bought a small hotel,” Vista Land Chairman Manuel B. Villar Jr. told reporters.

Villar said the company acquired the 54-room Boracay Sands Hotel in Aklan last December.

He said it is looking to build more hotels under a new brand with 150 to 200 rooms on its properties.

“We have lot properties in master-planned communities. We have quite a few prime properties. Tagaytay is one of them. We still have some properties in Metro Manila. Vista City is one of them,” he added.

Villar said the property firm has prime landbank in strategic locations where it can build more malls, hotels and BPO office buildings.

“We will have a decent number of malls, decent number of hotels, decent number of BPOs and that would be the program that would work as we maintain our shares in the housing market,” he further said. (PNA) SCS/LDV