Travellers announces nine months 2017 results
Pasay City, November 10, 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 15.7 billion and EBITDA amounting to PHP 2.6 billion for the nine months of 2017.
The casino was closed for 27 days in June this year and the 2nd floor gaming has not been restored despite reopening of the casino thereafter resulting to gross gaming revenues ending at P12.8 billion over the nine months of the year. Meanwhile, revenues from the non-gaming segment increased by 5.1% to PHP 2.9 billion, driven by hotel and MICE operations. Average occupancy rate for the three hotels was 78%.
Property visitation has recovered averaging 23,000 in the third quarter and 25,000 for the nine months of 2017.
“We are happy to see guests returning to the property and are excited to introduce Phase 3 of Resorts World Manila very soon.” said Kingson Sian, President & CEO, TIHGI. “This development will be fully operational by the end of 2018 and will realize our vision to be among the premier world-class integrated entertainment and tourism destinations in Asia.”
The Phase 3 expansion will have three international luxury hotels including Hilton and Sheraton, adding approximately 940 rooms. It will also include new gaming and retail spaces, as well as six basement parking decks.
TRAVELLERS INTERNATIONAL HOTEL GROUP, INC.Office: +632 7908-8000
Fax: +632 7908-8107
FOR INVESTOR RELATIONS AND COMPLIANCEBernard Than
Chief Financial Officer, Investor Relations Officer, Corporate Information Officer, & Compliance Officer