MANILA -- The iconic Sofitel Philippine Plaza Manila is closing its doors after almost five decades.

In a statement, the hotel said it will stop operations by July 1.

Sofitel said it would honor engagements and reservations until the end of June before it closes.

"This decision comes as part of our ongoing commitment to providing our guests and colleagues with the best possible experience," the hotel's management said in a statement.

Opened in 1976, Sofitel was designed by National Artists Leandro Locsin and Ildefonso P. Santos.

The Forbes travel guide, which gave the hotel a four-star rating for 2024, described it as the first hotel in the Philippines of international caliber.

"With gorgeous landscapes, lavish contemporary interiors and indulgent spa, it’s no wonder it’s often the hotel of choice of visiting VIPs, from former U.S. President Barack Obama to the Queen of Pop Madonna," Forbes said in its description of the hotel. 

A report from BusinessMirror noted that the hotel owner, Philippine Plaza Holdings Inc., is requesting the Government Service Insurance System (GSIS) for an extension on its lease contract for another 25 years. This means the lease contract will end in 2066, instead of its current 2041 date. 

The state pension fund owns the lot where the hotel stands.

The Sofitel Philippine Plaza hotel in Pasay City on May 10, 2024. Jonathan Cellona, ABS-CBN NewsABS-CBN News is still seeking GSIS' comment on the issue.