DISCOVERY WORLD Corp. (DWC) announced that its new hospitality property on Siargao Island under the Kip&Kin brand will open by 2027.
The new property, called Kip&Kin Siargao, will be built on approximately 7,000 square meters of the company’s 2.6-hectare lot in General Luna, Siargao, DWC said in a regulatory filing on Thursday.
Kip&Kin Siargao will feature 34 hotel rooms, 48 hostel beds, and retail spaces. The rest of the property is planned for future expansion phases, including additional rooms and retail spaces.
DWC, through its wholly owned subsidiary Lucky Cloud 9 Resort, Inc. and its property management company Discovery Hospitality Corp., broke ground on the project on Jan. 10.
With its dual concept of hotel rooms and hostel stays, Kip&Kin appeals to a new generation of tourists as well as families and mature travelers.
“Kip&Kin is more than just a place to stay; it’s a lifestyle brand where guests can immerse themselves in the energy of Siargao’s vibrant culture and natural splendor. We are excited to have Discovery Hospitality’s expertise to create an experience that captures the essence of Siargao and makes a significant contribution to the local economy,” DWC Chairman and Chief Executive Officer John Y. Tiu, Jr. said.
Meanwhile, DWC said that Discovery Hospitality also plans to open other Kip&Kin properties in Vanilla Beach El Nido and San Vicente, Palawan.
Discovery Hospitality manages brands such as Discovery Resorts, Primea, Discovery Suites, Kip&Kin, and Signature Collection.
On Thursday, DWC shares rose by 1.77% or two centavos to P1.15 apiece. — Revin Mikhael D. Ochave
