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The Manila Peninsula Hotel Inc. has been granted tax
incentives and other perks by the Board of Investments (BOI) for the
renovation and modernization of parts of the hotel that were ruined
during the foiled coup attempt last year.
In its application letter
submitted to the Board of Investments, the luxury hotel said the
modernization and renovation project covers the main lobby, function
rooms and the 249 guest rooms.
In November, rebel troops took
over the Manila Peninsula in a show of force to demand the
resignation of President Gloria Arroyo. The front entrance and the
lobby of the hotel were left in ruins after government troops
stormed in to capture the rebels.
The Hong Kong Shanghai Hotels
Ltd., which owns the Manila Peninsula on behalf of its local
partners, will pour in a total of P464 million for the repair and
modernization of the upper and lower wings at the main entrance.
The BOI has included tourist
accommodation facilities as one of the priority areas for tax perks
to encourage investors in this sector and address the backlog in
tourism facilities in the country.
--Katrina Mennen A. Valdez
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