THE first phase reconstruction of the Waterfront Manila Hotel and Casino complex is projected to be done by the middle of next year, according to the property’s listed operator Acesite (Phils.) Hotel Corp.
In a regulatory filing on Wednesday, Acesite said the tentative completion date for the initial rebuilding process is by May 2024, about six years after the complex was damaged by fire.
Acesite also disclosed that the second and third phases of the reconstruction plan are expected to be done by January 2025 and May 2025, respectively.
Waterfront Manila, previously known as Manila Pavilion, is in UN Ave., Manila City.
In March 2018, a fire broke out at the hotel-casino complex, leaving five people dead and 20 others injured.
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.
On Wednesday, Acesite shares at the local bourse increased by five centavos or 2.78% to P1.85 each. — Revin Mikhael D. Ochave