The Legend Villas in Mandaluyong City said it was closing after 28 years, underscoring how the COVID-19 pandemic and resulting lockdowns hit the tourism and hospitality industry.
The Filipino-themed hotel with Capiz shell windows announced its closure on Facebook, one day after the five-star Makati Shangri-la closed its doors temporarily, citing financial constraints due to COVID-19.
"As we officially close our doors and bid goodbye, we would like to express our heartfelt gratitude to all those who have been a part of The Legend Villas. We hope that we were able to impart a great customer experience to everyone," it said.
The Philippines posted its worst recession since World War II, with gross domestic product shirnking by 9.5% for the full year 2020. Household spending in 2020 fell by P801 billion or P2.2 billion per day.
On Monday, Socioeconomic Planning Sec. Karl Kendrick Chua said the country couldn't afford a return to stricter quarantines and that restrictions could be dialed down further by March.