Someone is paying $45M to build a luxury hotel in Guam

A new investment group led by Pacific Asian Developments, a hotel and resort development corporation registered in the Bahamas, is planning to build a 15-story, five-star hotel across from the Agat Marina in Guam for an estimated $45 million.

The group recently purchased 22,500 square meters of land, 5,000 square meters of which has been allocated for the Sirena Grand Hotel.

The Sirena will be built under a turnkey agreement with China State Engineering and Construction Corp., China’s largest construction company.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

PADL has an ongoing luxury resort development on Carabao Island, next to the resort island of Boracay in the Philippines, in a partnership with a major China-based hotel corporation. PADL’s Philippine resort project is in partnership with the Plateno Group, which also is a potential partner in the Guam hotel plan, David F. Jacka, the British chief executive officer of PADL, told Pacific Daily News.

 

Suggested Articles

A former bank on Rome's Parliament Square will become a Corinthian hotel with a central garden.

The Sofitel Calablanca will open by 2021 in Barú, joining the Sofitel Bogotá Victoria Regia and Sofitel Legend Santa Clara.

Ahead of the second Israel Hotel Investment Summit, sponsored by Questex, here are some ways Israel is innovating in terms of technology and investmen