First Gen Corp. said its director Manolo Michael de Guzman resigned from its board Friday, Sept. 11, following the divestment of 715.9 million First Gen shares by Valorous Asia Holdings Pte. Ltd., an investment vehicle wholly owned by global private equity firm KKR.
The Philippine hotel industry is poised to expand its investment pipeline beyond 40,000 rooms over the next five years, underscoring developers’ longer-term confidence in tourism despite mounting geopolitical and travel-cost risks.