I. The Project

A new condominium project by Filinvest at its pre-selling stage. Target completion date is on 2010.

1. The Grand Cenia Hotel and Residences Project

Grand Cenia is a 25-storey hotel and residential tower that will rise along Archbishop Reyes, corner Solon Street, Banilad, Cebu. It will be situated on a 4,211-sqm property, strategically located within the Cebu Central Business District.

The property used to be the location of the ancestral residence of the Gotianun Family in Cebu. East West Bank – Arch. Reyes branch is also located on one side of the property at the moment. Both the ancestral residence and the bank will be removed to give way to the Grand Cenia Project.

2. The origin of the name, Grand Cenia

Xenia (pronounced as “Ze-nee-yuh”) is the Greek concept of hospitality and guest-host relationship, appropriate for the high standard of service that the project’s hotel component wishes to provide. It is often translated "guest-friendship" (or "ritualized friendship"), because the rituals of hospitality created and expressed a reciprocal relationship between guest and host. The Greek god Zeus was sometimes referred to as Zeus Xenios meaning he was god of, among other things, travelers.

The Greek letter “X” was then replaced by the letter “C”, its English alphabet version, and the word Grand was added to reflect the bigness of the undertaking. The complete project name is The Grand Cenia Hotel and Residences, to reflect both the hotel component and the residential condominium unit component of the building.

3. The concept behind The Grand Cenia Hotel and Residences Project

Grand Cenia Hotel and Residences was conceptualized in response to the flourishing hotel industry in Cebu. From last year’s performance alone, all the major hotels (three star class and up) in Cebu experienced a very high, year-round occupancy rate. Conventions, both national and international, are being held in Cebu regularly. Together with the increasing tourism patronage from locals, OFWs, and foreigners, there will be a big shortage of supply for the hotel industry in Cebu as it plays catch up to address the growing demand for hotel rooms in the next 3 to 5 years.

4. Introducing The Grand Cenia Condotel

The “condotel” concept was designed to reap the economic benefits of both the tourism boom and the increasing number of OFWs originating from the region. The condotel units shall be pooled and operated as a hotel, making this a very good investment for regular travelers, whether they be OFWs, local businessmen or foreigners. Rental pool income share from the hotel operation business will be remitted to each of the condotel unit owner at the end of every quarter, providing these investors quick return on their money.

• More information about the Condotel Feature of this project