The ongoing rebuilding of the Waterfront Manila Hotel and Casino, a notable project in the Philippines’ hospitality and gaming sector, represents a significant endeavor in the country’s urban landscape. Located on UN Avenue in Manila City, the complex’s transformation is a crucial development for both the local community and the tourism industry. The tourism industry of Manila has reaped significant successes over the past couple of years, bagging multiple accolades and awards for marketing efforts aimed at boosting the city’s influx of tourists. The reconstruction of the Waterfront Manila Hotel & Casino is set to build on this existing success.
This extensive reconstruction follows a devastating fire in March 2018 that severely damaged the property, formerly known as the Manila Pavilion. The disaster in 2018 not only caused significant structural damage but also resulted in tragic human losses, with five casualties and twenty injuries.
The reconstruction process, led by Acesite Hotel Corp, the property’s listed operator, is unfolding in several phases. The initial phase of this massive project is anticipated to reach completion by the end of May 2024. However, this timeline is subject to change due to various factors that may influence the progress.
Notably, the renovation timeline has already been adjusted. Initially set for completion in November of 2023, the first phase has been postponed. This delay follows a previous postponement from an earlier planned “soft relaunch” in the first quarter of 2022.
In terms of construction progress, the Philippine Stock Exchange indicates that the second phase of the project is slated for completion by January 2025, followed by the third phase in May 2025. These renovations are crucial for revitalizing the property and positioning it as a premier destination in the region.
Acesite Hotel Corp, a well-established entity in the hotel operations industry, became a part of the Waterfront chain of hotels following its acquisition by Waterfront Philippines Inc. in 2004. Waterfront’s portfolio includes properties in Cebu City, Mactan Island, and Davao City, with the addition of the Waterfront Manila Hotel and Casino.
In a strategic move to enhance its gaming operations, Acesite and its related party have entered into a sublease agreement with PAGCOR, the regulatory authority overseeing the gambling industry and governing licensed online casinos in the Philippines. This agreement facilitates further development in the Waterfront Manila casino complex, signifying a major step in the property’s commercial strategy.
The reconstruction of the Waterfront Manila Hotel and Casino is a multifaceted endeavor, encompassing extensive renovations, strategic partnerships, and a commitment to restoring a landmark property. This project not only signifies the revival of a historic site but also marks a significant milestone in the further development of the Philippines’ tourism and gambling sectors.