COP shutting hotel operations

Coral Ocean Point Resort Club is shutting down its hotel and room operations beginning May 13, 2012, to give way to a $20-million renovation project, attorney Vincent Torres disclosed yesterday.

Torres, chairman of COP owner Suwaso Corp., told Saipan Tribune that they will begin their renovation and construction plans once they secure the required government permits.

“However, [the] golf course and one of its restaurants will remain open,” Torres said.

He said the first step is to begin the renovation process for all 100 rooms and hotel infrastructure.

“Initially, we planned to start our renovation one room at a time while we still operate the other rooms so that we can continue generating income while renovating,” he said.

After much consideration, Torres said they realized that if they continue to open and operate the hotel rooms during construction, they would be putting their customers as well as the employees at high risk of getting injured.

Although it would be better for business to continue operating the hotel rooms during the renovation, Torres said their priority is the safety of customers and employees.

“Accordingly, we decided to shut down our hotel and rooms portion of our resort and re-open them back when all the renovations and constructions are completed,” he said.

Torres said the second step is to build 200 new rooms and finally, to build a convention center, adding that the plans and specifications for these phases of the project have already been completed.

The new Suwaso owners had promised to settle the previous owners’ debts to the CNMI government of almost $1 million and with other CNMI private and public agencies using an immediate infusion of $7 million.

COP is located on a 735,023 square meter property at Agingan Point, Saipan.

A separate investor group led by Cheong Pui Ng, a former business partner of the late business tycoon Larry Hillblom, wants to invest over $11 million in COP. Ng, president of Pacific Investment and Development Corp., previously offered to invest over $10 million in the hotel but is now promising an additional $1 million to rehabilitate COP.

Last Dec. 12, Ng resubmitted to then Department of Public Lands secretary Oscar M. Babauta its proposal for a 25-year lease with option to lease up to 40 years for the management and operation of COP.

Ng is also president of Bang Plee Construction Limited that built Hillblom’s Dalat Hotel and Golf Course in Vietnam in 1994. He owns several businesses on the island.