THE WATERFRONT MANILA Hotel & Casino complex in Manila is anticipated to be fully reopened by the primary quarter of 2027 after facing construction delays, its listed operator Acesite (Phils.) Hotel Corp. said.
The property’s reopening will occur in three phases, Acesite said in a regulatory filing on Thursday.
“The ultimate phase, targeted for the primary quarter of 2027, will complete the remaining hotel rooms and general amenities, marking the total reopening of the property,” Acesite said.
Based on Acesite, the primary phase is slated for the primary quarter of 2026. This phase consists of the soft opening and completion of the rostrum, which incorporates public areas resembling the lobby, select food and beverage outlets, and the casino.
The second phase of the opening will occur by the late third quarter of 2026. It comprises the introduction of additional guest amenities and facilities.
In March 2018, a hearth occurred on the hotel-casino complex, leading to five fatalities and injuring 20 others.
Acesite said the hotel reopening faced construction delays attributable to issues during redevelopment and reconstruction.
“These challenges include technical difficulties, adjustments to the project scope to reinforce facilities, and logistical hurdles resembling sourcing specialized materials and equipment,” Acesite said.
“Lots of these issues surfaced in the course of the construction process attributable to the choice to retain the unique structure and shell of the constructing, which is over 50 years old, as a cost-saving measure,” it added.
Acesite said it also needed to handle structural reinforcements and adapt to the present foundation’s condition.
“During construction, damaged tendons were discovered, requiring alternative and extra reinforcement. Concerns over slab vibrations also led to the alternative of certain slabs,” Acesite said.
“Controlled demolition was meticulously executed to forestall any impact on adjoining structural elements, highlighting the complexity and precision required for the reconstruction,” it added.
Acesite is engaged within the hotel operations business. In 2004, Waterfront Philippines, Inc. established its ownership and majority control over Acesite.
Waterfront Manila is a component of the Waterfront chain of hotel facilities, which has a presence in Cebu City, Mactan Island, and Davao City.
Acesite shares fell by 0.6% or one centavo to P1.65 per share on Thursday. — Revin Mikhael D. Ochave
