By Sarah Gain
Dubai-based company announces $152 million hotels for Philippines capital.
Dubai-based hotel and resort company Kingdom Hotel Investments (KHI) has announced a US $152 million hotel and residences development on Makati Avenue in Manila, the Phillipines.
The development will include a Fairmont and a Raffles hotel, both with spas, and branded residences offerings.
The company has also announced that the majority of its operating hotels performed strongly last year, despite difficult trading conditions in Beirut in the second half of 2006 following the war in Lebanon.