Manila (3 July) -- President Gloria Macapagal-Arroyo will groundbreak today (July 3, 2008) the newest addition to the growing number of world-class hotels under the internationally renowned Shangri-La Hotel chain: the Shangri-La at the Fort, Manila in Taguig City.

To be built at a cost of $250 million, the 60-story Shangri-La Hotel will be an architectural marvel at the Fort, former headquarters of the Philippine Army – Fort Bonifacio.

Now known as the Bonifacio Global City (BGC), the new business center has emerged as the top destination of leading local and international companies wishing to invest, expand and do business in the Philippines.

The Shangri-La at the Fort, Manila will house 500 guestrooms and 234 apartments. The new hotel will complement the four existing hotel properties of Shangri-La Asia Limited in the Philippines and the Shangri-la Resort and Spa, Boracay which is scheduled to open late this year.

Guestrooms will range in size from 52 square meters for a standard room to 260 square meters for a "Horizon Club" room, Shangri-La's exclusive retreat for discerning travelers that offer a host of special amenities and privileges, including a lounge for daily breakfast and cocktails, meeting rooms and express check-in and check-out services.

The hotel will also feature over 4,600 square meters of meeting and banqueting facilities, including a grand ballroom, junior ballroom, 11 function rooms, a boardroom, business center, individual teleconferencing room and a 350-square meter high-end outdoor event area.

Eduard Kuok, president and chief executive officer of Shangri-la Asia Limited, said the construction of the Shangri-la at the Fort is a "demonstration of our firm commitment to the Philippines."

"Our presence and confidence in this market continues to grow with an expanding portfolio of business and leisure properties," he added.