The provincial government of Negros Oriental is currently looking at striking a partnership with the private sector for the completion of the Negros Oriental Hotel and Restaurant.
Governor Roel Degamo, in a press conference after his First 100 Days speech at the Capitol today, said he has earmarked P3 million for the ongoing hotel construction.
But the hotel will need around P50 million more to complete its construction.
The governor said that he is open to private entities that might be interested in pouring in funds for the hotel’s completion as well as oversee the management of the Negros Oriental Convention Center. “I don’t want these buildings to end up being a white elephant,” said Degamo.
Degamo plans to form an Economic Enterprise Office that will look into how the provincial government will manage its income-generating facilities.
The four-floor, 45-room hotel was started in 2006 under the administration of then governor and now Second District Cong. George P. Arnaiz.
When former Gov. Emilio C. Macias stepped in after the administration of now Cong. Arnaiz, the total amount needed for the hotel completion was pegged at P100 million.
Then Gov. Macias sunk around P58 million into the hotel’s construction under his term.
Over the years, the hotel’s construction work thrived on sporadic funding allotment from the provincial government, even as the latter continues to pay the loan it earlier availed from the Development Bank of the Philippines (DBP) to start said construction.
The provincial government in 2004 entered into a loan agreement with DBP for P150M which bankrolled the construction of the now completed Negros Oriental Convention Center worth P120M while the rest of the money kicked off the construction of the hotel and restaurant. With reports from (RMN/PIA-7 Negros Oriental)