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Acesite (Phils.) Hotel Corporation

Company Description
Acesite (Phils.) Hotel Corporation (ACE) was originally incorporated as Delbros Hotel Corporation on October 10, 1952. ACE had been in the hotel business since March 15, 1968. At that time, the Hilton International Company provided for the management of ACE's hotel property located at the corner of UN Avenue and Maria Y. Orosa Street. The Holiday Inn (Philippines), Inc. took over the management of the hotel in January 1995, and took charge of the operations until February 28, 2003.

In 2004, Waterfront Philippines, Inc. (WPI) established its ownership and majority control over ACE. Currently, ACE is a 59.78% owned subsidiary of WPI. The Manila Pavilion Hotel thus became part of WPI's chain of hotel facilities, complementing the Waterfront hotels in Cebu City, Mactan and Davao. The Company still operates the Manila Pavilion's hotel and restaurant operations.

ACE acquired 100% interest of CIMA Realty Phil., Inc. (CIMAR), a former subsidiary of Acesite Limited (BVI) in October 2011. In July of the same year, the Company and CIMAR executed a memorandum of agreement which effectively settled all pending cases and controversies between the two parties. In fulfillment of all the terms and conditions of the agreement, CIMAR's stockholders including all their nominees, agreed to assign, sell, transfer and convey all existing shares of stocks of CIMAR to the Company. CIMAR owns the land on which the Manila Pavilion Hotel is situated.

Source: SEC Form 17-A (2015)
Security Information
Sector Services
Subsector Hotel & Leisure
Corporate Life 50
Incorporation Date Oct 01, 1952
Number of Directors 11
Stockholders' Meeting as per By-Laws June - third Wednesday
Fiscal Year 12/31 (Month/Day)
External Auditor R.G. Manabat & Co.
Transfer Agent Rizal Commercial Banking Corporation - Stock Transfer Dept.
Contact Information
Business Address Room 610, Manila Pavilion Hotel, United Nations Ave. cor. M. Orosa St., Ermita, Manila 1000
E-mail Address r.ricardo@manilapavilion.com.ph
Telephone Number 526-1212
Fax Number 521-41-50
Website http://www.waterfronthotels.com.ph