Razon expects full ramp-up of Solaire Resort North operations by 2026

BLOOMBERRY RESORTS Corp. said that the operations of Solaire Resort North in Quezon City may reach full scale by 2026, two years after its opening in May of this year.

“At the end of two years, it should be fully ramped up,” Bloomberry Chairman and Chief Executive Officer Enrique K. Razon, Jr. said during the company’s virtual annual stockholders meeting on Thursday.

The upcoming resort is a $1-billion investment and will be Bloomberry’s second integrated resort under the Solaire brand, joining Solaire Resort Entertainment City in Parañaque City.

Mr. Razon said that the company’s focus will be on ramping up the operations of Solaire Resort North before starting other projects, such as Phase 2 of Solaire Resort Entertainment City and the planned casino project in Cavite.

 “There’s no specific timeline. All depends on how the market goes over the next several years,” he said.

 Solaire Resort North spans 1.5 hectares and consists of 38 floors. It has 526 guest rooms and suites, 2,669 electronic gaming machines, and 163 tables across four casino levels.

 “The next few years present a compelling case for growth. The Philippine economy, from which we derive most of our revenue and profitability, is estimated by the government to grow between 6-7% in 2024 and between 6.5-7.5% in 2025,” Mr. Razon said.

“We also anticipate benefiting from the improving inbound visitation as the World Tourism Organization sees the recovery of tourism in the Asia-Pacific region accelerating towards pre-pandemic levels in 2024,” he added.

Solaire Resort North will feature event venues, spa, saunas, plunge pools, gym, pool area for children, an interactive kids club, and a curated art program and display. — Revin Mikhael D. Ochave