FREEPORTS AND ECOZONES
BCDA, JHMC award lease agreement to Filinvest group for Baguio property By Mary Grace Padin
T
he Bases Conversion and Development Authority (BCDA) and the John Hay Management Corporation (JHMC) awarded a 25-year term lease contract to the Filinvest Hospitality Corporation (FHC), for the use of a 5,700-square-meter property in Baguio City. BCDA President and Chief Executive Officer (CEO) Vince Dizon, JHMC President and CEO Allan Garcia, and FHC Senior Vice President Francis Gotianun signed the lease agreement during a ceremony in Taguig City, on Dec. 9, 2020. In a statement, FHC said the pact will allow the company to develop a new 200room hotel at the heart of Camp John Hay (CJH) in Baguio City, thereby strengthening its hospitality presence in Northern Luzon. FHC said it will be the first dual-brand property under the Grafik and Quest hospitality brands, to be managed by Chroma Hospitality Inc. (CHI). “We thank BCDA and JHMC for trusting Filinvest,” Gotianun said. “Being the center of the Cordillera Region, Baguio City has always been one of the company’s top priorities. This unique opportunity will allow us to develop a full-service hotel in CJH, one of the most prime locations
in Baguio. It offers the whole package: exclusivity, nature, and panoramic views in the heart of Baguio.” He added, “This year may be challenging, but we continue to look ahead and see a bright future. The hotel will be ready to welcome guests in three to four years, in line with the full recovery of the tourism sector. As early as now, since the loosening of the lockdown and implementation of more efficient health and safety protocols, we are beginning to see signs of that recovery.” Gotianun expressed confidence that Baguio City will remain a top tourist and business destination due to its climate, culture, tourist attractions, and accessibility. He added that the city has become more accessible as the completion of the TarlacPangasinan-La Union Expressway (TPLEX) has significantly cut travel time from Manila to Baguio City. FHC is a wholly owned hospitality development and asset management subsidiary of Filinvest Development Corp. (FDC). CHI is a joint venture, full-service hotel management company between FDC and Archipelago International of Singapore. Collective / Issue 12 23
