Travellers’ net profit reached P244M
Pasay City, May 13, 2019 –Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), reported unaudited consolidated financial results with gross revenues amounting to P8.5 billion while ended the quarter EBITDA at P1.4 billion.
Travellers’ recorded first quarter gross gaming revenues of P6.9 billion driven by the sustained growth of the non-VIP and VIP segments. While, non-gaming revenues amounted to P1.6 billion.
Average occupancy rate for the five hotels which includes Marriott Hotel Manila, Maxims Hotel, Hilton Manila, Holiday Inn Express Manila Newport City, and Sheraton Manila (launched in Jan 2019) stood at 78% with a total room count of 2,201.
Property visitation for the first quarter reached a daily average of about 35,000 driven by well received shows, concerts, and the higher number of MICE events.
“We’ve been receiving very positive comments after the soft opening of the Grand Wing last year. We are confident that we can deliver sustainable top line and EBITDA growth moving forward.” said Kingson Sian, President and CEO of RWM.
“With the opening of Hotel Okura Manila in the second half of this year, total room count at the Resorts World Manila complex will be approximately 3,500, supporting the continued growth of the Philippine tourism industry .”
The Grand Wing will include 3 levels of world-class gaming, entertainment, and retail spaces. It will also include 3 international branded hotels with Hilton Manila and Sheraton Manila already which has already started operations, while Hotel Okura Manila is slated to be launched in the second half of this year.
TRAVELLERS INTERNATIONAL HOTEL GROUP, INC.Office: +632 908-8000
Fax: +632 908-8107
FOR INVESTOR RELATIONS AND COMPLIANCEBernard Than
Chief Financial Officer, Investor Relations Officer, Corporate Information Officer, & Compliance Officer