By I. Inojales | 05:06 PM October 01, 2026
TAGBILARAN CITY — Donatela Resort & Sanctuary, a luxury resort in Panglao, Bohol, owned by businessman Dennis Uy’s PH Resorts Group Holdings Inc., has permanently ceased operations following the foreclosure of properties securing its loan with Land Bank of the Philippines.
PH Resorts said in a disclosure to the Philippine Stock Exchange that its subsidiary, Donatela Hotel Panglao Corp. (DHPC), ended the resort’s operations on Sept. 30, 2026.
The closure followed extrajudicial foreclosure proceedings involving the land and improvements pledged as collateral for DHPC’s loan with United Coconut Planters Bank, which was later absorbed by LandBank. LandBank emerged as the highest bidder after no other bidders participated in the foreclosure auctions. The parties are awaiting court confirmation of the sale.
Donatela occupies about 7.2 hectares in Tawala, Panglao, and has 12 villas, 11 of which had been opened to guests. PH Resorts had said the resort’s hotel and restaurant operations were generating enough revenue to cover operating expenses, payroll and basic maintenance.
The resort had been acquired by the group in 2018. In 2018, UCPB granted DHPC a P975-million, 10-year term loan to refinance the acquisition of the Donatela property. The loan was secured by the resort’s land and improvements.
PH Resorts had also sold a 2,000-square-meter commercial property near Alona Beach for P55 million in July 2025, with the proceeds applied as partial payment of interest on the LandBank loan.
The closure comes as PH Resorts undergoes a broader restructuring with parent company Udenna Corp. Under the proposed plan, PH Resorts would transfer its entire ownership interest in PH Travel and Leisure Holdings Corp. to Udenna. PH Resorts said the restructuring is intended to address legacy obligations and improve its financial position.
PH Resorts also previously lost its option to repurchase properties related to the Emerald Bay project in Mactan, Cebu, after the sale-and-leaseback repurchase option expired on March 31, 2025. The properties and related liabilities were subsequently derecognized from the company’s books.
The Donatela closure further reduces PH Resorts’ operating assets as the company continues its restructuring program.
