Travellers Hotel boosts profit to P1.4 billion

MANILA, Philippines — Travellers International Hotel Group Inc. (TIHGI), the owner and operator of Resorts World Manila (RWM), grew its net income by more than four-fold to P1.4 billion.

Gross revenues increased by 17 percent to P24.7 billion, driven by both gaming and non-gaming segments.

Kingson Sian, president and CEO of RWM, said the improved performance was helped by the opening of the ground floor gaming of the Grand Wing as well as the launch of Hilton Manila and the Sheraton Manila Hotel.

“Both hotels added 747 rooms to the company’s hotel portfolio,” he said.

Gross gaming revenues went up 17 percent, supported by the sustained growth in all gaming segments.

Non-gaming revenues also rose  17 percent to a record high of P4.7 billion.

Property visitation increased 11 percent, averaging 28,500 per day, while average occupancy rate for the four hotels - Marriott Hotel Manila, Maxims Hotel, Hilton Manila, and Holiday Inn Express Manila Newport City - was 79 percent with a total room count of 1,811.

The Grand Wing will have three international luxury hotels. These are the Hilton Manila which opened in October 2018, the Sheraton Manila Hotel which is already on its soft opening, and the Hotel Okura Manila which will open this year.

This brings the Grand Wing hotel room count to approximately 940. It will include new gaming, entertainment, and retail spaces, as well as six basement parking decks.

“When the Grand Wing is fully operational, RWM will be the largest and most versatile integrated resort in the country offering our customers thrilling experiences,” Sian said.

Once construction of all hotels are completed, RWM will have the highest number of hotel rooms for a single property in the Philippines.