by Miriam G. Desacada
Tacloban City Mayor Alfred Romualdez on Monday announced that the city government will no longer proceed with its P500 million loan with the bank because, on its own, it can afford to buy the iconic landmark, the Leyte Park Resort Hotel.
Romualdez issued the declaration during the launching ceremonies of monthlong city fiesta-related activities at the hotel itself last June 1.
“I went to Land Bank two weeks ago to tell them, we don’t need the loan (anymore) because we have enough money,” the mayor shared to the local media.
Romualdez was also thankful to the City Council, and the city government for that matter, for prudent management of the city’s finances which resulted in its current capacity to purchase and assume ownership of the 6.3-hectare resort-hotel, which had been a tourism icon of the city.
The sprawling Leyte Park Hotel was built in 1979, during the time of the Marcos administration, close to the shoreline of the city atop a hill overlooking San Pedro Bay.
In 1987, Leyte Park Hotel was among those sequestered by the national government during the term of the late president Cory Aquino. In 1994, it was leased to a Tacloban-based private corporation.
The iconic hotel was reportedly co-owned by the Tourism Infrastructure and Enterprise Zone Authority (Tieza), the Privatization Management Office (PMO), and the Leyte provincial government until it closed operations sometime in 2021.
The following year it was auctioned off and the Tacloban LGU won as the buyer, which then signed a deed of conditional sale in the runup to the completion of the bid-purchase and eventual ownership and management.
The first plan of the Tacloban LGU was to apply for a P500 million loan from the LandBank to be used to effect the purchase. The city’s master plan was to add more amenities and facilities to the hotel, such as an IT Park and a convention center right inside the property.
Days before, Romualdez said the loan application shall no longer be pursued because the LGU already has enough funds to buy the hotel
“I’m happy and proud that the Leyte Park Hotel is ours. It now belongs to us (city government),” said the mayor to the crowd attending the fiesta launching ceremony, adding that the hotel will be a huge boost to the city’s tourism while generating more jobs to the people.
As part of the celebration for the 134th fiesta of Tacloban City, Romualdez said Leyte Park shall be the new venue of the Carnival and Sangyawan Music Festival, which will run from June 1 to July 6. He said there will be food trucks, and Agro Fair among other recreational activites within the coming days.
June 30 of every year is the feast of Señor Santo Niño, the patron saint of Tacloban City and the Heavenly Patron of Leyte. By virtue of Republic Act 7676, the day is called Tacloban Day and declared as a special non-working public holiday. —Miriam G. Desacada