ALI takes over El Nido Resorts

MANILA, Philippines - Property giant Ayala Land Inc. (ALI) has acquired a controlling 60 percent interest in the company that owns and operates the El Nido Resorts in Lagen and Minilog Islands in Northern Palawan, the most luxurious resort in the area.

In its report to the Philippine Stock Exchange, ALI said its purchase of a controlling stake in Asian Conservation Co. (ACC) strengthens its presence in resort and leisure development.

The financial terms of the acquisition, however, were not disclosed.

“We are excited to have ACC as our new partner, not just for their unique experience in managing island resort properties but also for their strong adherence to a quadruple bottom line approach in preserving the environment around their resort properties,” said Antonino T. Aquino, president and chief executive officer of ALI.

“We are pleased to have ALI as our strategic partner, given their strong corporate philosophy on sustainability and their proven track record of building world-class real estate projects,” ACC chairman Vicente S. Perez added.

ACC has been adjudged winner of the Wild Asia Responsible Tourism Award in 2009 and was one of 15 Favorite Green Hotels recognized by Travel Leisure Magazine in 2007. 

ALI said the partnership calls for the development of responsible tourism destinations in Northern Palawan and help boost tourism in the country.

ALI first ventured into the resort and leisure segment with its development of Anvaya Cove, a premiere residential enclave and resort in Morong, Bataan that is also active in marine conservation in the area. This was followed by a similar development called Amara in Cebu.

El Nido, which is operated under Ten Knots Developments Corp. of ACC, is about 420 kilometers southwest of Manila. Activities offered at El Nido Resorts include lagoon tours, cave tours, mangrove river tours, bottom fishing, bird watching, hat making, picnic lunches, sunset cruising, kayaking, windsurfing, hobiecat sailing, snorkeling, diving and, with prior arrangement, dive course Lagen Island Resort, the most luxurious exclusive resort in the area, has a total of 51 rooms of varying types of accommodation.