Travellers’ net profit reaches P1.8B in 9-mos 2018
Pasay City, November 12, 2018 –Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), reported unaudited consolidated financial results with gross revenues reaching P17.0 billion and net profit amounted to P1.8 billion.
For the first nine months of 2018, gross gaming revenues rose by 7.5% year-on-year to P13.8 billion while non-gaming revenues from rose by 11.3% to P3.2 billion.
On a quarter-on-quarter basis, gross gaming revenues saw a 4.9% increase to P4.7 billion versus P4.5 billion in the second quarter driven by growth in both the non-VIP and VIP segments. Non-gaming revenues generated P1.2 billion in the third quarter, increasing by 10.7% versus the second quarter. Property visitation averaged 27,500 per day in the third quarter and average occupancy rate for the three hotels – Marriott Hotel Manila, Maxims Hotel, and Holiday Inn Express Manila Newport City – was 79%.
“The latest addition to the hotel portfolio of Resorts World Manila is the Hilton Manila Hotel, which opened its doors to the public last October 25,” says Kingson Sian, President and CEO of RWM. “The hotel offers 357 rooms, three restaurants, two bars, several meeting spaces, and a 545-square meter ballroom that can accommodate up to 600 people for a cocktail set-up.
“We will continue to invest in the property to be able to provide thrilling and unique experiences for our customers,” continued Sian. “We are in full swing working to complete our Phase 3 development called the Grand Wing,”
The Grand Wing will have three international luxury hotels – Hilton Manila, Sheraton Manila Hotel, and Hotel Okura Manila – adding approximately 940 rooms. It will include new gaming, entertainment, and retail spaces, as well as six basement parking decks.
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