Boracay Convention Center plenaries in the function rooms. The Boracay Convention Center is part of the 79.21-hectare eco-village land in Boracay Island, which the Ayala group owned until June 2003. In 2005 alone, Boracay Property Holdings Inc., has so far invested $6 million or about P336 million to put up the world-class hotel and facilities in the area. Philippine Department of Trade and Industry Secretary Cesar A. V. Purisima had endorsed the conversion of the eco-village project, into a Tourism Economic Zone (TEZ) to President Gloria Macapagal Arroyo, who issued the presidential proclamation. The Trade department noted the rise in tourist bookings in
Coney Island of the West hotels such as the North Star, Lake House, and the Sherman House, the Coney Island Hotel and its resort became the most popular of all of Waconia's hotels and contributed to the town's status as a favorite summer resort. Lambert Naegele developed the island and named it "Coney Island of the West". The origin of this name is unclear. Some claim it is named after the Coney Island entertainment center on the East Coast. Others think that it comes from the large numbers of "coneys", or rabbits that lived on the island. Finally, one group claims "Coney" is just a