Donatela Resort & Sanctuary, an upscale property in Panglao, Bohol, owned by Davao businessman Dennis Uy’s PH Resorts Group Holdings Inc., permanently ceased operations on September 30, 2026, after its land and improvements were subjected to foreclosure proceedings by the Land Bank of the Philippines (Landbank).
In a regulatory filing, PH Resorts said its wholly owned subsidiary, Donatela Hotel Panglao Corp., had turned over possession of the property to Landbank following the foreclosure. However, the transfer of ownership remains subject to court confirmation and the issuance of the official certificate of sale.
The foreclosure stemmed from a P975-million loan originally obtained in 2018 to refinance the resort’s acquisition. The property was pledged as collateral for the debt. Landbank emerged as the highest bidder at the foreclosure auctions after no other bidders participated.
Resort Operations Could Not Resolve Outstanding Debt
Donatela occupies 7.2 hectares in Panglao and has 12 villas, 11 of which had opened to guests. Despite its upscale positioning, the resort’s revenue was only enough to cover operating expenses, payroll, and basic maintenance, according to company disclosures.
The property and related assets were valued at approximately P1.44 billion on PH Resorts’ books at the end of 2025. Parent company Udenna Corp. had previously pledged to cover the loan’s P975-million principal, plus interest.
The resort’s closure marks another setback for PH Resorts as it works to restructure its finances and address outstanding obligations.
PH Resorts Scales Back Its Property Holdings
The company had already reduced its Bohol property holdings in 2025, selling a separate 2,000-square-meter commercial lot near Alona Beach for P55 million. The proceeds were used to partially pay interest on the Landbank loan.
PH Resorts has been pursuing a two-year restructuring plan aimed at addressing legacy debts and exploring new businesses and investments.
The closure also comes amid challenges facing Bohol’s tourism industry, including concerns over visitor arrivals and travel costs. However, PH Resorts’ regulatory disclosure directly links Donatela’s shutdown to the foreclosure of its collateral, rather than attributing the closure to the broader tourism slowdown.
