LISTED Primex Corp. said its subsidiary has canceled the hotel management and consultancy services agreements for a planned Pullman hotel in San Juan City.
“Primex Realty Corp., a wholly owned subsidiary of Primex Corp., and S & P, Inc. have mutually agreed to disengage from their hotel management agreement and hotel consultancy services agreement for its proposed Pullman Manila at Primex Tower due to differences in design preference,” Primex Corp. said in a regulatory filing on Wednesday.
“Primex Realty is now exploring possible tie-ups with other world-renowned hotel operators,” it added.
In December 2020, Primex Realty tapped international hotel group Accor SA to manage the planned 200-room Pullman Manila at Primex Tower in the Greenhills district of San Juan.
The hotel would be at the topmost ten floors of the 50-storey Primex Tower, which also has retail and office spaces on the lower floors.
The Pullman brand is the high-end international brand of the Accor group.
Pullman Manila will feature two restaurants, a rooftop bar, a fitness center, a swimming pool, and event facilities. It was scheduled for completion last year.
Some of Primex Corp.’s other completed projects include the high-end residential developments Goldendale Village in Malabon and The Richdale in Antipolo City.
On Wednesday, Primex Corp. shares were unchanged at P2.17 apiece. — Revin Mikhael D. Ochave