Panlilio firm retakes Boracay beachfront property

ABS-CBN News

Posted at Mar 16 2015 08:41 PM | Updated as of Mar 17 2015 04:41 AM

MANILA – Boulevard Holdings Inc. (BHI) said it has re-occupied a 2,600 square meter (sqm) beachfront property of Fridays resort in Boracay island that was allegedly taken over by another party last year.

In a letter to its shareholders, BHI said the Aklan Municipal Trial Court issued a Writ of Possession “because of a finding of forcible entry against Mila Yap, son of Datu Yap and their 200 mostly Muslim henchmen.”

The Writ of Possession was implemented by the lady sheriff of the Aklan court with 60 policemen and 50 engineering department staff on March 13, BHI said.

BHI said it expects its peak season sales to rise to P18 million a month from P8 million with the extra 17 deluxe rooms that will be re-opened for occupancy.

“We, however, lost almost P10 million to P12 million a month in missed opportunities for 2 Chinese New Years, 1 Christmas season, and 2 Easter holidays. This was the terrible suffering BHI had to go through in this segment of our business,” BHI said.

Fridays Boracay is the only operational resort of the Panlilio-led BHI.

The firm said that with the development, it can now restart its Puerto Galera project, which it is expecting to finish by October this year.

“BHI can reasonably forecast recovery in our sales for the rest of the year, if the totally new police personnel in Boracay Island uphold the law,” BHI added.