ABS-CBNnews.com | 11/19/2012 12:21 PM
MANILA, Philippines - The government on Monday said it will privatize the Leyte Park Hotel in Tacloban City.
In a statement, the Privatization and Management Office (PMO) said it is working with the Department of Tourism in finalizing the terms for the bidding for Leyte Park Hotel, which will be held possibly by the end of the year.
Built in the 1970s, the Leyte Park Hotel is a 6.1 hectare resort complex that offers views of Mount Danglay, San Juanico Strait and San Pedro Bay.
The PMO said it is considering including the conservation and redevelopment of the hotel in the terms of reference for its sale.
"The privatization aims to rehabilitate the Leyte Park Hotel in order to promote regional tourism that may not only generate revenues for the City of Tacloban, but more importantly lead to economic growth through an increase in the business or economic activity in the area," the PMO said.