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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. 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. The Waterfront Manila Hotel and Casino (then 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 has since been renamed and is now known as Acesite Realty, Inc. CIMAR owns the land on which the Waterfront Manila Hotel and Casino is situated.

Source: SEC Form 17-A (2022)
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 Stock Transfer Service, Inc.
Contact Information
Business Address 7th Floor, Manila Pavilion Hotel, U.N. Avenue, Ermita, Manila
E-mail Address [email protected]
Telephone Number 559-0888
Fax Number 559-0130