Hotel denies claim it is now owned by a presidential ally

MANILA, Philippines - Adriatico Consortium, Inc., which owns Pan Pacific hotel in Malate, Manila, has denied an earlier newspaper report which indicated that businessman William Gatchalian has acquired majority control of the property. In a statement received by GMANews.TV on Wednesday morning, the company said that it remains the rightful owners of Pan Pacific Manila Hotel and denies in no uncertain terms that control and ownership of the property has been transferred to Waterfront Philippines Inc. A publicly-listed company controlled by Gatchalian, Waterfront Philippines Inc. manages, among others, the Waterfront Cebu City Hotel. “Mr. Gatchalian’s claims have no merit and is damaging to the reputation of both the Pan Pacific Manila Hotel and the Adriatico Consortium Inc.," the statement said. “In line with this, the company is studying their options regarding this issue." The consortium admitted that it is in the middle of a decade-old court case involving a $12 million credit agreement with state-led Landbank of the Philippines. Dubbed “Plastics King" owing to the fortune he made manufacturing plastic products, Gatchalian is reportedly a close ally of President Gloria Macapagal-Arroyo. Meanwhile, according to its website, Pan Pacific Manila Hotel claims to be “the first and finest luxury hotel in the Philippines with a butler service. The hotel has 236 “all-executive rooms" and 7 function rooms, its website said. - GMANews.TV