MANILA, Philippines - The opening of Friday's resort hotel in Puerto Galera has been pushed back to February 2013, according to publicly listed Boulevard Holdings Inc. (BHI).
In a disclosure to the stock exchange, BHI said its unit Friday's Puerto Galera Inc. has moved the opening of the hotel to February 2013.
Hotel construction is now four weeks behind schedule due to inclement weather.
"So the turnover of the project, instead January next year, was moved to February 2013," BHI said.
The Friday's Boquete Beach Resort Hotel is located on Boquete Island, Puerto Galera, Oriental Mindoro. The 3.8 hectare property will have 80 luxurious native cottage-styled rooms, restaurant, outdoor pool, dive shop, gym and spa treatment pavilion.
BHI said it expects to generate revenues of P15 million on opening month. This would add P45 million in revenues for the company's next fiscal year ending May 31, 2013.
At the same time, BHI said its board of directors have approved the subscription of new shares of stock to be issued by its units Friday's Holdings Inc. (up to P500 million) and Friday's Puerto Galera Inc. (up to P400 million).
FHI is the owner and operator of Friday's Boracay Beach Resort in Aklan.