BOI APPROVES P222-M DAVAO HOTEL VENTURE
Manila, Dec. 14, 1997 - A new hotel will rise soon in the very busy skyline of Davao City.
The Board of Investments has approved the Yapster Hotel Corporation as a new operator of a tourist accommodation facility in the booming Davao City metropolis.
The Filipino-owned firm plans to construct a 171-room standard class hotel on a 4,000 square meter lot along Quimpo Boulevard downtown. The project, estimated to cost P222 million, was endorsed by the Department of Tourism for BOI incentives.
The facility will combine hotel accommodations with commercial and business establishments, telecommunications facilities and entertainment/dining function rooms.
Construction is set to begin next month with commercial operations expected to commence in July 1999.
Yapster Hotel Inc. is owned by the Yap Group led by Cresencio Capacio Yap.
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