MJC Investments Corp., the property unit of racetrack operator Manila Jockey Club Inc., on Wednesday opened its P3.7-billion hotel and entertainment complex within the San Lazaro Tourism and Business Park in Sta. Cruz, Manila.
MJC Investments said in a disclosure to the stock exchange it held a soft opening on the 18-story Winford Hotel as well as on the ground floor gaming and entertainment complex.
The Winford Hotel consists of 128 internationally designed deluxe rooms and includes a three-level entertainment and gaming area, ballroom, swimming pool, gym and spa, coffee shop and dining area, retail outlets and a seven-level parking structure.
MJC Investments in 2013 broke ground on the hotel and entertainment complex. The company designed it to provide premium hotel, entertainment and meeting options in one of Metro Manila’s most affluent areas.
MJC Investments sold shares to a consortium of investors from Hong Kong in 2013, equivalent to a 33-percent stake in the company, for P450 million to finance the project.
MJC Investments in 2015 sold another 673,791,662 shares to the same group of Hong Kong investors for P673.79 million.
The San Lazaro Business and Tourism Park is a vertical integrated urban township comprised of luxury high-rise condominiums, and Manila’s only dedicated, IT and BPO dedicated tower registered with the Philippine Economic Zone Authority.
The complex is already the home of a high-end residential condominium project jointly developed by Ayala Land Inc. and MJC, and the SM San Lazaro mall.
MJC Investments was initially incorporated to engage in the mining business. It has diversified to focus in the growing Philippine tourism industry.
Share price of MJC Investments on Wednesday closed unchanged at P3.50 per share.