Travellers’ net profit up 59.4% versus 4Q
Pasay City, May 11, 2018 –Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), reported unaudited consolidated financial results with gross revenues reaching P5.5 billion and EBITDA amounting to P839.7 million.
Gaming revenues improved as it grew by 4% in the first quarter to P4.5 billion compared to P4.3 billion the previous quarter. Net profit likewise improved significantly as it grew by 59.4% to almost P450.0 million compared to P278.5 million during the previous quarter.
“We are confident that our financial results will continue to improve following the partial opening of the Grand Wing last May 9,” said Kingson Sian, President & CEO, TIHGI. “This phase of our expansion will be fully operational by the end of 2018, adding enhanced gaming capacity, new hotel rooms, and more retail space.”
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 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 RELATIONSBernard Than
Chief Financial Officer & Investor Relations Officer
FOR COMPLIANCEAtty. Ma. Georgina A. Alvarez
Chief Legal Officer & Corporate Information Officer