CEBU, Philippines - BXT Corporation, the operator of JPark Island Resort Cebu is pursuing plans to expand in other popular tourism destinations in the Philippines, specifically in Boracay and Palawan.
Justin Uy, chairman and president of BXT Corporation said that the company is currently working on the necessary requirements for planned projects.
Uy, a Cebuano capitalist who also owns the biggest processed food export company Profood International Corporation; JCenter Mall, and a developer of Japanese hotel Toyoko Inn, among other businesses, is now putting his focus on tourism related investments, drawing confidence on the country's stable tourism growth.
Uy believes that the Philippines offers huge opportunity in tourism-related businesses as its rich resources has not been maximized yet, in terms of promotions, as well as the establishment of complementing facilities, such as accommodations.
He said despite the attraction potential of our country, it still registers the lowest tourism growth among its ASEAN counterparts.
In the next three years, Uy hopes to establish a JPark Island Resort chain, and put its presence in key tourism points in the country.
Aside from Boracay and Palawan, the company is also eyeing Bohol as its target site for expansion in the short term.
The company, he said expects to spend at least P1 billion for each planned projects in three areas (Boracay, Bohol and Palawan), on top of its announced plan to build the 30-hectare tourism integrated project in Mactan Island.
He said if tourism in the Philippines will be fully maximized with the conscious support from the private sector and investors, it will be able to surpass other Asian hot destinations like Thailand.
"In the 70s we're at par with Thailand in attracting tourists, now Thailand generates visitors six times bigger than us," Uy said. — (FREEMAN)