Hann Philippines Inc, the firm behind the Hann Resorts brand, says it will develop its announced InterContinental hotel as part of the expansion of the group’s Hann Casino Resort, instead of at the under-construction Hann Reserve property.
“We have decided to bring InterContinental to Clark Freeport,” said Daesik Han, chairman and chief executive of Hann Philippines, in an interview with GGRAsia.
“We’ve been coordinating with the InterContinental team in terms of the designing for a couple of months, and we target to start construction this year,” stated Mr Han. The firm expects to complete the project by 2029.
The InterContinental-branded hotel will feature “around 350 rooms”, and it “will be part of the expansion” of Hann Casino Resort, remarked the CEO.
The Hann Casino Resort expansion also includes the construction of a 640-room hotel under the Novotel brand, according to the chairman.
“Behind the existing facility, we have around 3.3 hectares [8.2 acres] of land, and that is the area where we are going to build the InterContinental and Novotel,” stated Mr Han.
In July last year, Hann Philippines had announced a franchise agreement with IHG Hotels & Resorts to introduce the InterContinental hotel brand – originally with 250 rooms – to the Hann Reserve complex.
The casino firm runs the Hann Casino Resort (pictured) at Clark Freeport Zone, and is developing the Hann Reserve property at New Clark City.
Hann Casino Resort launched in December 2021 as an upgrade and rebranding from the former Widus Hotel and Casino at Clark. The existing complex offers 865 hotel rooms under the Swissôtel, Marriott, and Widus brands. It features a casino with 200 gaming tables and electronic games, and more than 1,000 slot machines.
The promoter said the casino expansion consists of two new floors. The first floor will feature 35 gaming tables, and an additional 450 slot machines, along with two more restaurants. The second floor – dedicated to private gaming, and with a new restaurant – will include 30 gaming tables, and 140 slot machines.
The first phase of the expansion of Hann Casino Resort is expected “to be done by the end of this year,” Mr Han told GGRAsia.
Joint venture, financing
The company is moving ahead with its Hann Reserve project, which will feature three 18-hole courses, several upmarket hotels, villas, and a casino. The project will also feature a “commercial centre”, residences, and an international school, according to its promoter.
The company has already announced a number of hotel brands for Hann Reserve, including the So, Sofitel and Emblems by French hospitality group Accor SA; and The Luxury Collection and Westin brands by Marriott International Inc.
In December 2023, a Banyan Tree-branded hotel project broke ground at the Hann Reserve site.
“We’re still targeting to open the first golf course by the end of this year. We kicked off construction of the second golf course a couple of months ago, which is scheduled to open by the end of 2026,” said Mr Han.
The first golf course was designed by former world number one-ranked golfer Nick Faldo, and will have Professional Golfers’ Association (PGA)-affiliated facilities.
The other two golf courses at Hann Reserve are to be created by South Korean professional golfer KJ Choi, and the Nicklaus Design company.
The CEO told GGRAsia that the company was “exploring different” options regarding financing for ongoing projects, but made no comments about a potential initial public offering (IPO). The company already finalised a loan agreement with banks to fund the expansion of Hann Casino Resort.
There had been reports about Hann Philippines planning an IPO, with the firm said to be looking to raise between PHP15 billion (US$259.2 million) and PHP20 billion.
Mr Han said the company has been working with POSCO Engineering & Construction Co Ltd, “one of the biggest construction companies in South Korea”. POSCO is already involved in the construction and design of projects being developed by Hann Philippines.
“Hopefully we’re going to sign a joint venture agreement within the second or third quarter this year. This means that this company [POSCO] will be an equity partner for the InterContinental hotel and the Hann Reserve project,” added the executive.
InterContinental hotel now set to open at Hann Resorts, says Daesik Han
