Acesite suspends Manila Pavilion hotel rebuild as costs swell to P3.6B

ACESITE (Phils.) Hotel Corp. has suspended the reconstruction of the Waterfront Manila Pavilion Hotel, citing rising construction costs and weak tourism and gaming industry conditions that have undermined the project’s viability. In a stock exchange filing on Thursday, the listed hotel operator said the rebuilding budget has risen to about P3.6 billion, well above the […]