The bilyonaryo daughter of former Senator Juan Ponce Enrile is diving into the hotel and resort business.
The Philcomsat Holdings board led by president and CEO Katrina Ponce-Enrile has approved the company’s expansion into the management and operation of hotel, resort and recreation centers. Katrina took the reins of Philcomsat in Mach 2020.
Philcomsat’s first project is a management contract with the Montemar Beach Club which boasts of a 12-hectare cove with a 500-meter long white sand beach in Bagac, Bataan.
Montemar, which has 89-plantation-inspired rooms spread among the five Mediterranean-themed inns in the resort, was established in 1978 and has 350 active members among 8,000 proprietary shareholders.
The property is part of Philcomsat’s vast landholdings in Batan and Rizal, part of which it plans to develop into renewable energy hubs.
The firm’s main business is managing money market placements and the Professional Stock Transfer Inc.