Travellers announces 1H 2017 results
Pasay City, August 14, 2017 –Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), reported unaudited consolidated financial results with gross revenues reaching PHP 11.2 billion and EBITDA amounting to PHP 2.2 billion for the first half of 2017.
With the casino non-operational for 27 days in June, gross gaming revenues ended the first half of the year at PHP 9.2 billion. Meanwhile, revenues from the non-gaming segment increased by 3.9% to about PHP 2.0 billion fueled by hotel operations. Average occupancy rate for the three hotels was 80%.
The area of the second floor affected by the June 2 incident will be converted into a retail zone. Gaming capacity at the end of June stood at 218 tables, 1,407 slot machines, and 110 ETGs. Overall property visitation reached an average of 26,585 daily visitors.
“We must be dynamic and aggressive to make sure that RWM is ready for increased competition and the expanding market,” said Kingson Sian, President & CEO, TIHGI. “RWM remains committed in implementing necessary enhancements that ensures the safety, security and enjoyment of our customers and guests.”
The Phase 3 development will have three hotels, namely, Hilton Manila, Sheraton Manila Hotel, and Maxims II, adding approximately 940 rooms. It will also include new gaming and retail spaces, as well as six basement parking decks.
The Company has invested approximately PHP 65 billion since 2008 and will continue to contribute to the country’s appeal as a leisure tourism destination with the launch of Westside City Resorts World by 2020.
TRAVELLERS INTERNATIONAL HOTEL GROUP, INC.Office: +632 908-8000
Fax: +632 908-8107
FOR INVESTOR RELATIONSBernard Than
Chief Financial Officer & Investor Relations Officer
FOR COMPLIANCEAtty. Ma. Georgina A. Alvarez
Chief Legal Officer & Corporate Information Officer