E Teck Invites Proposals for Magdalena Grand Resort; Options Include Brand Operator, Strategic Partner, or Purchase of the Property.
Evolving TecKnologies and Enterprise Development Company Limited (e TecK) has announced an invitation for Request for Proposals (RFP) for the Magdalena Grand Beach & Golf Resort. This marks the first time the hotel has gone out to tender since the Apple Hotels brand deal fell through due to the COVID-19 pandemic. The RFP calls for bids under three options: 1. A renowned international brand operator to manage the hotel, or a third-party operator with a franchised brand. 2. A strategic partner who will provide capital investment and management expertise, possibly acquiring partial or full ownership. 3. The outright purchase of the resort asset. This move is part of the government’s intention to revitalize the resort and bring in the necessary expertise and investment to secure its future. This was mentioned during the reading of the national budget in September 2024.
