The upscale resort in Panglao closed at the end of Sept. 30 and will be turned over to the state-run bank, bringing an end to a property PH Resorts acquired in 2018, the company said in a regulatory filing on Thursday.
The shutdown comes at a difficult time for Bohol tourism, which has been grappling with weaker visitor arrivals and criticism over high prices, although Donatela’s closure stems from longstanding debt problems.
A 7.2-hectare resort closes
Donatela sits on 7.2 hectares in Panglao and has 12 villas, 11 of which had been opened to guests before the closure.
PH Resorts had said hotel and restaurant bookings were bringing in enough money to cover day-to-day expenses, payroll and basic maintenance.
The debt dated back to 2018, when the group borrowed the same amount to help finance the resort acquisition and put the property up as security.
No other bidders
Landbank moved to foreclose this year and emerged as the winning bidder after no other buyers showed up, putting an end to PH Resorts’ ownership of Donatela.
The property and shares pledged against the loan were carried on PH Resorts’ books at P1.44 billion at end-2025, while parent Udenna Corp. had previously promised to cover the P975-million principal plus interest.
PH Resorts had already been shrinking its Bohol footprint, selling a separate 2,000-square-meter commercial property near Alona Beach in September 2025 for about P50 million.
This also comes as PH Resorts undergoes a two-year restructuring to shed old debts and find new businesses or investments.
—Edited by Miguel R. Camus
