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The partial reopening of Waterfront Manila Hotel and Casino in Ermita has been delayed again, this time for a full year, as its operator faces “unforeseen challenges” in completing the first phase of reconstruction.

Acesite (Phils.) Hotel Corp., in which Waterfront Philippines Inc. has a 55.49-percent ownership, disclosed to the stock exchange on Thursday that the decision to retain the hotel’s 50-year-old structure and shell — which the company said was a cost-saving measure — caused several issues.

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These include technical difficulties, adjustments to the project scope and logistical hurdles, including the sourcing of specialized materials and equipment.

“Site-specific challenges further complicate the process, particularly the need to address structural reinforcements and adapt to the condition of the existing foundation,” Acesite said in its disclosure.

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As a result, Acesite said the first phase of the reopening of Waterfront Manila, formerly known as Manila Pavilion Hotel, had been moved to the first quarter of 2026.

Comments from top Federal Reserve officials suggesting they would like to see a slower pace of rate cuts tempered hopes for another bumper cut at the bank’s next meeting, while Middle East worries pushed gold to a new record.

In a statement on Monday, GSIS said the transport hub dubbed as ‘Project Hub’, will be located at the corner of the Elliptical Road and Commonwealth Avenue.

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The first phase, which includes the completion of the lobby, food and beverage outlets and casino, was originally scheduled for completion in the first half of 2024. This was later delayed to the last quarter of 2024, before Acesite settled on another date.

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The final phase involving the completion of remaining hotel rooms and general amenities is set to be finished in the first quarter of 2027, marking Waterfront Manila’s full reopening.

Manila Pavilion was razed in a fire in 2018, resulting in the death of at least six people and the hotel’s eventual closure.

The Bureau of Fire Protection attributed the fire to faulty electrical wiring.

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