DISCOVERY WORLD CORPORATION (DWC) is a professionally managed company that develops, operates, and manages some of the most sought after luxury destinations in the Philippines.
The Company was incorporated and registered with the Securities and Exchange Commission on January 5, 1993 as Southern Visayas Property Holdings, Inc. and on March 21,2013, the SEC approved the change of the Company's name to Discovery World Corporation. It is doing the business under the names and styles of Discovery Shores Boracay, Discovery Shores, Platitos Resto-Bar, Sands Lounge, Indigo Resto-Bar, Sunken Pool Bar, Forno Osteria, Estate XI, and 360 Roof Lounge.
DWC was listed and traded on the Philippine Stock Exchange on November 21, 2013.
Its primary purpose is to develop, invest in, own, acquire, administer, construct and operate hotels, resorts, apartelles, condominiums, townhouses, buildings, other tourist-related structures, and their usual facilities, including but not limited to, the operation of transportation or shuttle services for tourists in all its various forms by means of automobiles, motor cars, buses, trucks, cruise lines, yachts, luxury vessels, leisure and sports crafts, and other similar modes of transportation and conveyances of every kind and description as may be allowed by law.
Discovery World Corporation’s first and flagship project is Discovery Shores Boracay, an 88-suite resort hotel located in Station 1 of the island of Boracay that was launched in 2007. During the reopening of Boracay island following its 6-month rehabilitation in October 2018, the luxury resort launched “Signature Suites,” its premier wing with an additional 11 indulgent suites. Most recent awards include Conde Nast Travelers Readers’ Choice Awards 2021 – Rank 17 in Asia, International Hotel Awards 2020, DestinAsian Magazine’s 2020 Reader’s Choice Top 10 Best Hotels and Resorts in the Philippines award, Preferred Hotels & Resorts’ 2019 IPrefer Member’s Choice Awards, Condé Nast Johansen Awards for Excellence Best for Families in Asia (2018), Country Winner: Luxury Wedding Destination and Luxury Family Resort (2017) World Luxury Hotel Awards, No. 1 Hotel Spa in Asia, Top Family Hotel in Asia, the No. 2 Top Resorts in Asia, and No. 5 Top Resorts in the World in 2012, elevating Discovery Shores Boracay as a world class destination hotel of international standard.
The company also owns and operates Club Paradise Palawan, presently a 62-key luxury resort in Dimakya Island, Coron, Palawan, following DWC’s acquisition of Euro-Pacific Resorts, Inc. in 2013. Club Paradise enjoys an "AA" resort accreditation rating from the Department of Tourism. It received the Kalakbay Resort of the year (AA Category) award in 2001 and 2003 from the same agency. Some of the notable international awards include Global winner: 2021 Top 100 Destination Sustainability Stories, Luxury Family Beach Resort at the 2019 World Luxury Hotel Awards, 2019 Best Destination Wedding Venue in Asia presented by Hitchbird.com, and Luxury Sea View Hotel of the Year from Luxury Travel Guide Awards 2018.
In the 4th quarter of 2018, the company, through fully-owned subsidiary Cay Islands Corporation, opened its 5-hectare El Nido, Palawan development, a retail strip called "Shoppes at Vanilla Beach." Shoppes has around 5,000 sqm. of leasable space. Tenant mix includes restaurants and lifestyle shops. The Company is also developing a 117-hotel room and 84-bunk bed hotel-and-hostel development under the brand “Kip & Kin,” a new and exciting brand of the group catering to the younger generation. The brand’s launch will coincide with the opening of the hotel in 2022.
Through another subsidiary called Discovery Fleet Corporation, DWC also operates Discovery Palawan, a cruise boat with an aggregate of about 22 rooms and facilities. Discovery Fleet is into the cruise business that generates its revenue from the full diving and non-diving programs from its voyage in the Philippines’ renowned dive sites. This business has two (2) main seasons, namely the Tubbataha season from March to June and the leisure season from October to March.
DWC also owns Discovery Hospitality Corporation, the homegrown management company behind award-winning properties, namely Discovery Shores Boracay, Club Paradise Palawan, Discovery Primea Makati, and Discovery Suites Ortigas.
The company continues to expand its business in key tourist destinations within the country through its other 100%-owned subsidiaries - Sonoran Corporation, Palawan Cove Corporation, Long Beach Property Holdings, Inc., Lucky Cloud 9 Resort Inc., and Balay Holdings Inc.
In 2021, One Davao Townships Corporation (ODTC), 100% owned by DWC, was incorporated. ODTC is intended as the developer for properties to be acquired in Davao for future developments.
In the last quarter of 2021, DWC invested in True Ally Ventures Limited (True Ally), a registered company in the British Virgin Islands. True Ally will venture into the cryptocurrency and NFT (non-fungible token) space through blockchain gaming and other various related services contributing to building the open metaverse.