|FORMER SENATE PRESIDENT and Speaker Manny Villar, wife Sen. Cynthia Villar and son Rep. Mark Villar. The Villar group has decided to go into hotel and hospital businesses in addition to their malls, condominiums, subdivisions and property businesses and lately, convenience stores,|
Earlier, it was learned the group will go into hospital business as well, a sector where Manny V. Pangilinan and his Metro Pacific Group has forayed into.
“We are now having BPOs (business process outsourcing), malls and now we will start investing in hotels. We bought a small hotel,” Vista Land Chairman Manuel B. Villar Jr. said.
Villar said the company acquired the 54-room Boracay Sands Hotel in the island resort of Boracay in Malay, Aklan last December.
He said it is looking to build more hotels under a new brand with 150 to 200 rooms on its properties.
“We have lot properties in master-planned communities. We have quite a few prime properties. Tagaytay is one of them. We still have some properties in Metro Manila. Vista City is one of them,” he added.
Villar said the property firm has prime landbank in strategic locations where it can build more malls, hotels and BPO office buildings.
“We will have a decent number of malls, decent number of hotels, decent number of BPOs and that would be the program that would work as we maintain our shares in the housing market,” he further said.
On March 18, columnist Victor Agustin reported first that for the former Senate President quietly ventured into the hotel business, acquiring the cash-strapped Sands Hotel in Boracay during the Christmas holiday rush.