Two Spanish hotel chains will soon invest in beach resorts in the Philippines.

The Department of Tourism reported that Occidental Hotels and Resorts and the Nueva Rumasa Group have chosen the Philippines as their first investment site in Asia.

The DOT said “None of the hotel chains in Spain have any investments in Asia. So this will be the first time for the two hotel chains to invest not only in the Philippines but in Asia.”

“They’re not investing here because of Spanish tourists… Essentially, they have seen how Japan, Korea and China have become our largest source of tourists. This is one reason why the Spanish decided to put their investments here… because they want to know how to do business with these types of tourists, because they know that in terms of tourism, the fastest growing is really here in Asia,” The Tourism Department added.

Occidental and Rumasa will each invest P2 billion to P4 billion in beach resorts, and add a total of 800 to 1,000 rooms to current capacity. Occidental representatives will arrive next month to scout for locations, while Rumasa representatives will be visiting the country within the year.

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