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BANYAN TREE TO BUILD TWO RESORTS IN PALAWAN

Singapore-based Banyan Tree Holdings Ltd. is putting up a pair of luxury hotel-resorts in Palawan at a cost of $70 million.  The hotel and resort developer has decided to build in the islands of Coron and Dumaran, each of which would have Banyan Tree’s signature pool villas and multi-award winning spa services. The project is expected to be completed by 2010.

The company said the islands would remain pristine and secluded and retain their ambience, characteristics that are attractive to tourists and that would make the islands premier Banyan destinations. Banyan Tree officials led by executive chair Ho Kwon Ping made a courtesy call on President Gloria Macapagal.