Filinvest Development Corporation (FDC) has approved a merger involving its wholly-owned hospitality subsidiaries, part of a broader effort to streamline operations within the Group’s hospitality arm.
The subsidiaries involved include Filinvest Hospitality Corporation, Boracay Seascapes, Dauin Seascapes, Duawon Seascapes Resort, Dumaguete Cityscapes, Gensan Cityscapes, Mactan Seascapes Services, Princesa Cityscapes, and Zamboanga Cityscapes, with Filinvest Hospitality Corporation designated as the surviving entity.
The Gotianun-led company said the merger is an internal corporate restructuring initiative aimed at simplifying the organizational and operational framework of its hospitality business.
The transaction involves only unlisted subsidiaries and will not result in the issuance of new FDC shares.
FDC said the merger will be accounted for as a transaction between entities under common control and is expected to have no material financial impact on the consolidated group once completed.
The consolidation is intended to improve efficiency and support long-term growth across the group’s resort and hospitality portfolio.
