SUBIC BAY FREEPORT ZONE - The construction of the first 5-star hotel in Subic Bay Freeport started after the 30th 2019 Philippine South East Asian Games.
Citic Hotels and Leisure Corporation signed a contract with the Subic Bay Metropolitan Authority to build and operate the first ever Five Star Hotel in Subic Bay Freeport Zone, "This marks the first time that Subic Bay will build a Five Star hotel more than 2 decades after the former US Naval Base was turned into the first premier special economic and freeport zone." - SBMA chief
In a contract signed with the Subic Bay Metropolitan Authority (SBMA), the group will construct, manage and operate the Citic Hotels and Leisures Corp. here and pump in P5 billion to develop a 10,517-square-meter location just in front of Subic Bay's popular seafront events venue Boardwalk Park.
Part of the negotiation between Citic Hotels and Leisure Corp. and Subic Bay Metropolitan Authority was to also develop the Boardwalk Area of Subic Bay where events are held. One of the most popular events in Subic Bay's Boardwalk is New Year's Eve where both locals and foreign tourists spends their New Year.
Every year, crowds gather at the Boardwalk Area and Waterfront Road to watch the annual fireworks display of the SBMA and the live band that performs during the New Year's Eve. After many years, the iconic place of Boardwalk will be developed so that it can host events in a better condition.
The Citic Hotels and Leisure Corp. was allowed to build a 14-storey Hotel and Office building in the stunning location of Waterfront in Subic Bay, this will mark the first time that Subic Bay Metropolitan Authority allowed an investor to build a structure that is more than 12-storeys that will continue.
SBMA Deputy Administrator for Business and Investment Kenneth Rementilla said, Wyndham has committed P5 billion to build a 14-story five-star hotel with 350 to 400 rooms within three years.
The hotel building will house restaurants, entertainment, leisure and events management facilities, including ballroom and convention hall.
Wyndham has also committed to develop a 4,207-sq-m area for the operation of a Subic Bay-Manila ferry service in another open space to be developed for public use. They also pledged to develop an amphitheater and a public park with commercial stalls in the next few years.