THE WATERFRONT MANILA Hotel & Casino complex in Manila is expected to be fully reopened by the first quarter of 2027 after facing construction delays, its listed operator Acesite (Phils.) Hotel Corp. said.
The property’s reopening will happen in three phases, Acesite said in a regulatory filing on Thursday.
“The final phase, targeted for the first quarter of 2027, will complete the remaining hotel rooms and general amenities, marking the full reopening of the property,” Acesite said.
According to Acesite, the first phase is slated for the first quarter of 2026. This phase consists of the soft opening and completion of the podium, which includes public areas such as 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 fire occurred at the hotel-casino complex, resulting in five fatalities and injuring 20 others.
Acesite said the hotel reopening faced construction delays due to issues during redevelopment and reconstruction.
“These challenges include technical difficulties, adjustments to the project scope to enhance facilities, and logistical hurdles such as sourcing specialized materials and equipment,” Acesite said.
“Many of these issues surfaced during the construction process due to the decision to retain the original structure and shell of the building, which is over 50 years old, as a cost-saving measure,” it added.
Acesite said it also needed to address structural reinforcements and adapt to the existing foundation’s condition.
“During construction, damaged tendons were discovered, requiring replacement and additional reinforcement. Concerns over slab vibrations also led to the replacement of certain slabs,” Acesite said.
“Controlled demolition was meticulously executed to prevent any impact on adjacent structural elements, highlighting the complexity and precision required for the reconstruction,” it added.
Acesite is engaged in the hotel operations business. In 2004, Waterfront Philippines, Inc. established its ownership and majority control over Acesite.
Waterfront Manila is part 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
