BELMONT HOTEL

BORACAY BELMONT LUXURY HOTEL will be operated and managed by Prestige Hotels and Resorts, Inc. (PHRI), a company dedicated to managing Megaworld’s hotel and leisure portfolio. Prestige’s current roster of projects includes The Richmonde Hotel in Ortigas CBD as well as the Eastwood Richmonde Hotel at Eastwood City.

This arrangement gives the condominium hotel unit owner a “worry free” investment because the hotel operator manages the leasing of the hotel rooms, their maintenance, refurbishment and improvement as well as their operating expenses, real property taxes, association dues, common area charges, utilities, insurance and other related expenses.

A condominium hotel unit owner will be entitled to a share in Net Room Revenue regardless of whether his unit was actually rented or not.