SM Prime Holdings, Inc., the real estate development arm of SM Investments Corporation, is building three more Park Inn by Radisson hotels beside its malls in Clark Field, Pampanga; Mall of Asia and Iloilo. In an interview, SM prime chief operating officer Jeffrey Lim said the first to be built will be the 150-room hotel in Clark which is set to open by the last quarter of next year. Construction of the mall will be funded by a portion of the firm’s planned P25-billion bond offering. Apart from the Park Inn by Radisson project, the proceeds of the offer will be used to finance capital expenditures for the expansion of malls, in particular — SM City Seaside Cebu, SM City Angono, SM Butuan, SM Cagayan de Oro, SM City San Mateo, SM City Bacolod, SM City Lipa, SM City Sta. Rosa, The Block in SM City North EDSA. It will also be used in the construction of office spaces Five and Three E-com Center buildings, and Makati Avenue Commercial Building. SM Prime will also use part of the proceeds for the construction of the 347-room Conrad Hotel Manila in the Mall of Asia Complex. (JAL)