Despite threats of an economic meltdown this year, investors still find Cebu as an attractive investment site, especially in the hospitality industry.
"It's [still] feasible to invest in the hospitality industry especially in Cebu," Robert Lim Joseph, chairman of Food & Beverage Inc., the operator of Ralph's Wine chain of store in the country said.
Joseph said tourism-related investments like hotels are long term, he said it is better to start investing this time.
"Those who say 'wait and see' are the ones who don't have money," he said adding that those that are liquid are looking at best investment channels where to put their money, and hospitality industry is one.
Joseph bared his plans of investing multi-million pesos for an establishment of a 36-room boutique hotel in Cebu in Lahug area. Processing works is now underway.
Following the establishment of the company's Hotel Vino in Pasay City, Manila, Joseph said the company is moving on to build more boutique hotels around the country, starting with key tourism hotspots like Cebu and Boracay.
For his part, entrepreneur Steve Benitez, whose company operates the Bo's Coffee Club chain around the country, he said that now that world is slowing down in terms of expansion, serious local investors are also moving forward in making strong foundation and invest in preparation for the recovery.
"It's better to invest now, so that when economic recovery time comes, we will be ready to face the giants," Benitez said.
In fact, in the last quarter of 2008, the company spent about P4 million investments for opening two more outlets in Ayala Center Cebu's new wing called "The Terraces."
Also, at least four Bo's Coffee Club will be opened this year emerging areas like Dumaguete, Tacloban, Bacolod and Iloilo.
Also, another Cebuano-owned coffee chain operator Coffee Dream invested P10 million for its re-branding campaign, to prepare for a much fiercer competition expected ahead, when the economy will get to its feet again.
"We find opportunity in crisis. I believe this is the best time to invest and position ourselves, so that we the economy recovers, we will be ready for greater competition challenges," Soco said.
Property- management firm Colliers International observed that while there was lots of property projects launched this year, or broke ground this year, developers have continually pursued their active land banking pursuits.
"Developers have continue to make their "land banking" in preparation for the global economic recovery," said Colliers International general manager for Cebu Rodulfo Lafradez.
While others are putting their investments in "land-banking, "in Cebu, other capitalists have actually started their ground works notwithstanding the global economic slump, Lafradez added.