VIP Hotel under purchase negotiations

The Lobby of VIP Hotel

VIP Hotel may be turned over to a new management in the future. Fortune General Cagayan de Oro has posted on Facebook that the owner of ALC Group of Companies Antonio L. Cabangon Chua is in the city for the purchase negotiations of one of the oldest hotels in Cagayan de Oro. The post also mentioned the formal launching and turn over of Eternal Gardens Greenhills Park in Bulua which is the 10th memorial park now fully owned by ALC.

Photo credits to Jaysan Ray Chee and Fortune General Cagayan de Oro

ALC Group of Companies is a conglomerate engaged in various businesses such as insurance, media, pre-need assurance, automotive, banking and finance, security, education, hotels, and real estate. Few of the popular names under this company’s business portfolio are Fortune Life Insurance Co., Eternal Plans Incorporated, Business Mirror, Citystate Savings Bank, Isuzu GenCars Incorporated, and Aliw Broadcasting System.