Previous Story
Tinian Dynasty aims to build 500 more rooms
|
Posted on Feb 02 2005
Tinian Dynasty Hotel and Casino is planning to invest $80 million on an expansion program, in anticipation of the influx of tourists that will be coming to the islands following the signing of the Approved Destination Status memorandum between the Chinese and CNMI governments.
“The secret’s out. [Tinian Dynasty] chairman Michael Kwan is planning to build another 500 rooms,” Tinian Dynasty general manager Tom Liu announced on Tuesday.
Liu said the contractor and the architect are slated to come this month to evaluate the expansion site.
Initial estimates showed that the plan will cost about $80 million, he added. The existing 412-room facility cost $150 million to build.
Liu also maintained that the expansion will not necessarily result in an immediate increase in the hotel’s room rates.
“It’s all a matter of supply and demand. Raising rates is not the way to increase business. Our idea is to increase the business at a rate that the tourists can accept. That’s the important thing,” he said.
Several other hotels on Saipan are also investing on renovation or construction of additional facilities. Among these hotels are World Resort Saipan, Aqua Resort Club, Dai Ichi Hotel, Pacific Islands Club, and Hyatt Regency Saipan.
