Gov. Eloy S. Inos and two of his Cabinet officials left for Seoul yesterday morning to meet with officials of the South Korean-based investor E Land that recently broke ground on an initial $40 million renovation of Coral Ocean Point Resort Club as part of its $40 million-some, multi-year investment plan for the hotel.
The governor, Department of Public Lands Secretary Pete A. Tenorio, and Marianas Visitors Authority managing director Perry Tenorio were scheduled to meet with E Land officials yesterday.
“Governor Inos was scheduled to meet with E Land officials regarding their ongoing and planned investments in the CNMI,” press secretary Angel Demapan told Saipan Tribune.
The officials are expected to be back this afternoon.
Their trip was paid for by the CNMI government, Demapan said.
Inos’ trip to Seoul comes some two weeks after the Sept. 25 groundbreaking for Coral Ocean Point’s initial $4 million renovation that includes sprucing up the existing 80 rooms, the main building, and swimming pool.
The administration has been encouraging investors to bring online idle hotel rooms or build new hotels at a time when the CNMI lacks hotel rooms to accommodate a resurging visitor arrival into the islands.
Coral Ocean Point’s renovation comes at a right time, the governor had said during the groundbreaking, as hotel occupancy is starting to post record-high numbers and the demand for more hotel rooms has increased.
Tourist arrivals to the CNMI reached 400,000 in August, already exceeding the arrival levels seen in 2006 when Japan Airlines was still flying to the CNMI from its main market of Japan.
E Land/Micronesia Resort Inc. also has plans for its other hotels on Saipan—Pacific Islands Club in San Antonio and the former The Palms Resort in San Roque but the company said it would reveal those plans at a later date.