Thank all that have replied and or commented!
I myself have been researching for the logical/scientific explanation for the electrolysis as presented by the contractor, including any input from this forum. NO LUCK SO FAR!
It is a problem/issue that I will inherit if not solved. The corrosion I'm speaking of is affecting both the handrails and metal light enclosures within the pool. I have rust leaching out onto the plaster. This pool and spa have been open for less than six months.
I am currently questioning proper bonding. I did find that every bonding wire clamp in the equipment room was installed incorrectly, and was loose. Could not be tightened down until I removed them and installed them correctly. With that condition I question all the bonding connections underground, within the concrete, and in the pool that I cannot get at. Unfortunately proper testing cannot be done with water in the pool, submerging all the parts in question that I can see.
The contractor did install sacrificial anodes in the light fixtures, but has since removed them and installed a anode inline in the equipment room.
I see no activity on that anode as of yet, it gets very little water flow and with the grounding issue I'm not surprised.
This will be a constant ongoing and costly problem long term if I cannot get it figured out.
I might add the contractor initially stated it was an issue that needed to be addressed by Pentair, the company that sold them all the pool equipment: including the lights.
I am now going to throw the ball back at the contractor for their response and or assistance, and see where that gets me. So far their only solution and or explanation is the underground wire scenario. I'm thinking they should have mentioned or addressed these things when installing the pool. The hotel was under construction at the same time and the electrical had already been installed.
I'll watch for any more insight from this forum, and will give any updates that come about.