10 Jun 2014

Two new hotel projects likely in CNMI's Saipan

2:16 pm on 10 June 2014

Two new hotels are expected to be built on Saipan in the Northern Marianas after a joint venture between Tan Holdings and Sunshine 100 opted to build its resort on private land.

The CNMI Department of Public Lands now hopes South Korea's E Land Group will step in and build its planned resort on the public lands previously set aside for Tan Holdings and Sunshine 100.

The joint venture earlier planned to build a 133 million US dollar 544-room hotel on public lands in Marpi.

Tan Holdings' newly acquired private land is north of the Marianas Resort racetrack, and will cover 168,000 square metres.

The company already owns Fiesta Resort & Spa in Garapan and Kanoa Resort in Susupe, among other hotels, and other investments in the CNMI.

E Land's Micronesia Resort company already owns three hotels on Saipan.

Its planned Palms Resort is to be a Sheraton hotel.