Korean hotel project breaks ground in Subic

SUBIC BAY FREEPORT — A groundbreaking ceremony was held recently signaling the start of construction of a P20-million hotel located along the picturesque Waterfront road, right in the heart of Subic’s central business district here.

Subic Bay Metropolitan Authority (SBMA) chairman Felicito C. Payumo said the groundbreaking ceremony is also a show of support of the Korean business community here and their continued confidence in the freeport’s potential.

The new project, which will be named Seorabeol Grand Leisure Hotel will be housing 30 rooms and will cater to Korean tourists and other nationalities visiting the area.

"We welcome the arrival of Seorabeol Hotel. We now can say that there is a place dedicated for Korean tourists when they come over to visit. This new hotel means more jobs for the residents of the neighboring communities, as well as increased revenue for the government," he added, noting the new hotel marks the strong presence of Korean investments in Subic.

Leading the groundbreaking ceremonies for this new endeavor were Payumo, MBK Grand Leisure Inc. president Kim Byun-Kwun and officials from both the SBMA and the Korean business community.

According to Byun, the reason for setting up in Subic is the immense potential Subic has as a tourist stop for Koreans wishing to go on holiday or vacation away from home.

"I first came down in 1993 and saw that Subic has great sites and is so beautiful. So we thought why not build a grand hotel for fellow Koreans who will be visiting here. I am glad that the SBMA supports us with this project," Byun stated.

Byun also shared that because of the expected high occupancy rate, they are already looking into the possibility of adding new rooms and facilities after the first phase of the project is completed.

Construction for the new hotel is expected to be completed by the end of the last quarter of this year.