Travellers’ net profit jumps to 1.7B in 1H 2018
Pasay City, August 10, 2018 –Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), reported unaudited consolidated financial results with gross revenues reaching P11.1 billion and net income amounting to P1.7 billion for the first half of 2018.
Gaming revenue continues to improve on a quarter-on-quarter basis as it grew by P40.7 million in the second quarter to P4.5 billion. Meanwhile, non-gaming revenue reached P1.1
billion posting a 9.2 percent growth in the second quarter compared to the previous quarter. Net profit for the second quarter ended at P1.2 billion.
“We continue to see growth in both our gaming and non-gaming business,” said Kingson Sian, President & CEO, TIHGI. “This was supported by uptrends in both non-VIP and VIP segments,
average daily visitation of 26,000 in the first half of 2018, and improvement in hotel occupancy. Our Phase 3 development, which we have named Grand Wing, commenced operations in May with the opening of a portion of the ground floor gaming area. The project will be fully completed next year.”
The Grand Wing will have three international luxury hotels – Hilton Manila, Sheraton Manila Hotel, and Hotel Okura Manila, adding approximately 940 rooms. It will also include new gaming, entertainment, 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