Travellers International Hotel Group, Inc, owner and operator of Resorts World Manila (RWM), reported on Monday its unaudited consolidated financial results with net revenue of Php5.8 billion (US$116.9 million) and EBITDA of Php1.4 billion (US$28.2 million). Gross gaming revenues reached Php5.3 billion– up 10% year-on-year – with improved performance from the non-VIP segment as revenues grew by 10% year-on-year.
Non-gaming revenue increased 9% year on year, ending the quarter at Php1.1 billion. Much of this can be attributed to solid improvement in the MICE business of Marriott Grand Ballroom and additional hotel rooms of the Marriott West Wing.
RWM’s total room count now stands at 1,454 with an average occupancy rate of 86% for Maxims Hotel, Marriott Hotel Manila and Remington Hotel. Overall average daily property visitation grew 7% year-on-year as vehicular traffic in the area improved with NAIA-X fully operational.
“RWM’s continued expansion projects will further enhance the existing diversified offerings aimed to provide a holistic customer experience,” said Travellers President and CEO Kingson Sian. “We remain confident that the Philippine economy and the tourism industry will continue to grow and we look forward to launching our Phase 3 development by 2018.”
Phase 3 will include three hotels, namely Hilton Manila, Sheraton Manila Hotel, and Maxims II. It will also include additional gaming areas, new retail space and additional basement parking levels.
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