Developer 8990 kicks off foray into luxury resorts


Sunset in Siquijor (Ventures Cebu Photo)


DECA Homes developer 8990 Holdings, Inc. announced that its first luxury resort would be in Siquijor, an island in Central Visayas known for its fiery sunsets.


Adama Resort Siquijor would be the first of 10 new hotels and resorts that 8990 subsidiary 8990 Leisure and Resorts would open before 2023.


The resort, which will feature 250 well-appointed rooms built within a 20-hectare property, is targeted to open in the second half of 2020.


Two other brands, luxury hotel Kura and urban hotel Argo, will also be introduced soon to tap the growing tourism industries in Cebu, Palawan, Boracay, Davao, Iloilo, Siargao, Baguio and Metro Manila.


All these hotels and resorts are expected to be completed before 2023 and contribute around P3 billion of additional recurring revenue to 8990 Holdings, the company said in a statement issued on September 25, 2019.


8990 Leisure and Resorts president Lowell Yu said Adama Resort Siquijor is a pioneering development that will highlight the tourism potential of Siquijor – from its pristine reefs, and virgin white sand beaches to its unique reputation as a mystical island.


Its main features include a private white sand cove, a central foyer that highlights the island’s natural scenery and luxury cabanas by the beach.


Yu said these “masterfully designed” amenities will be complemented by an exclusive butler service.


Yu was also behind Landers Superstore, Popeyes Chicken, Kuya J, Isla Sugbu Seafood City and the iconic Grand Convention Center of Cebu.


8990 generated record revenues of P7.01 billion and net income of P2.82 billion in the first six months of 2019. (Ventures Cebu)

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