Philippines conglomerate Alliance Global Group Inc, parent company of Travellers International, could invest up to $2 billion on integrated resort projects in Boracay and Cebu.
Last fall, AGI first unveiled its plan for a $300 million casino resort on the island of Boracay. It will include 2,000 hotel rooms, luxury villas, a private beach and an 18-hole golf course. The property is slated to open by the end of 2025 or in early 2026.
One of the Philippines’ top holiday destinations, Boracay has been called a paradise reborn. It once suffered from a tourism glut that led to serious environmental damage – not just overcrowding but massive overbuilding. Mounds of trash accumulated in the streets and on the beaches and illegal sewer lines dumped waste directly into the ocean.
In 2018, then-president Rodrigo Duterte declared Boracay a “cesspool” and shut it down for six months of environmental remediation.
The tough measures worked and the island has regained its natural splendour. AGI President and CEO Kevin Tan apparently wants to keep it that way, going for luxury and exclusivity over scale.
In a 2024 interview, he said Boracay World Resorts “would not be very big. It’s like a boutique style. We want it to be just right for the island, with a more sustainable design.” According to the Manila Standard, AGI plans to use 100% renewable energy through solar panels by 2026.
AGI pursues ‘long-term growth’ in Philippines
A second boutique resort project in Cebu represents a $400 million investment. Mactan World Resorts, part of a sprawling master-planned development in the province, will feature a hotel, casino and abundant non-gaming amenities. Tan called it a “gaming and leisure hub” that will bring more than 5,000 new jobs to Lapu-Lapu City and nearby cities in Cebu.
Tan says he’s bullish on Mactan Newtown. At the grand opening of two Gordon Ramsay-branded eateries on Saturday, he told the Philippines SunStar: “We believe so much in this province’s potential. It’s very progressive, and the people here are very friendly.”
AGI is building new hotels nearby. The 2,500-seat Mactan Expo Center also will support the IR, which is expected to open by 2026.
In an SEC filing Monday, AGI said its “collective investment in the above-mentioned integrated resort projects could hit $2 billion in view of [the company’s] collective long-term growth plans”.
AGI is now on track to have 10,000 room keys by the end of the year under its Megaworld and Travellers brands. That number could reach 12,000 before 2028.
Alliance Global Group head Kevin Tan continues to expand his Philippines portfolio with integrated resorts in Boracay and Cebu.