The Board of Investments (BOI) has approved two hotel development projects with a combined value of P90 million. The BOI said the projects may qualify for BOI incentives, since both will be built outside of Metro Manila.
In a news statement released on Thursday, the investments promotion agency said the Casa Coco Hotel project by Altipeak Land Development Inc. and the Eco Container Hotel of Ecohotels Inc. have qualified as tourist accommodation facilities under the Investment Priorities Plan.
The 30-room Casa Coco Hotel to be constructed in the Siquijor Island has a project cost of P62.4 million, and is eligible to fiscal perks, such as an income-tax holiday of up to six years and additional deduction from taxable income.
The P29.1-million Eco Container Hotel in Tagaytay, meanwhile, has applied for registration, citing the “unique” materials it had used, such as cargo containers made of corten steel, among others, to build the hotel. A number of eco-friendly features, such as solar panels, water recycling, energy-saving lights and upcycled materials, will also be installed once in operation.
Casa Coco Hotel is expected to start its commercial operations in April 2017 with 36 personnel manning the facility, while the 33-room Eco Container Hotel starts in April 2017 with 25 personnel.
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“The 30-room Casa Coco Hotel to be constructed…” and yet the hotels will start its commercial operations in April 2017? We are in May!