Arroyo to lead groundbreaking of new $250M Shangri-La Hotel

MANILA, Philippines - President Gloria Macapagal Arroyo will lead the groundbreaking rites Thursday for a new $250-million Shangri-La Hotel at The Fort in Taguig City in southern Metro Manila. A Malacañang statement Wednesday said the 60-story Shangri-La Hotel will be an "architectural marvel" at The Fort, the former headquarters of the Philippine Army. "The Shangri-La at the Fort will house 500 guestrooms and 234 apartments. The new hotel will complement the four existing hotel properties of Shangri-La Asia Limited in the Philippines and the Shangri-la Resort and Spa, Boracay which is scheduled to open late this year," the Palace said. Eduard Kuok, president and chief executive officer of Shangri-la Asia Ltd., said the construction of the Shangri-la at the Fort is a "demonstration of our firm commitment to the Philippines." "Our presence and confidence in this market continues to grow with an expanding portfolio of business and leisure properties," he added. It said guestrooms will range in size from 52 square meters for a standard room to 260 square meters for a "Horizon Club" room, Shangri-La's exclusive retreat for travelers. The new hotel will also feature over 4,600 square meters of meeting and banqueting facilities, including a grand ballroom, junior ballroom, 11 function rooms, a boardroom, business center, individual teleconferencing room and a 350-square meter high-end outdoor event area. It is expected to further spur economic activity within and around the Fort and provide jobs and livelihood opportunities to thousands of residents in Metro Manila. - GMANews.TV