Travellers International Hotel Group has announced its turnover for this year’s third quarter mere hours ago. The company is known to be the owner of the famous Resorts World Manila. The Philippines’ first integrated hotel and casino complex opened doors in 2009 and since then it offers to its visitors and guests numerous luxurious accommodation, gaming, and entertainment options.
Travellers posted overall turnover of PHP8.0 billion or US$177.6 million for the third quarter of the 2014 fiscal year. The company scored a 4.7-percent increase as compared to last year’s 3Q revenue. The turnover from gaming activities added up to PHP7.2 billion. The non-gaming activities, including the provision of food, drinks, services, etc. contributed to the overall revenue with the amount of PHP772.3 million. The company’s gross turnover from gaming activities posted a 6.2% rise as compared to last year’s numbers, and a 13.2-percent one as compared to the previous quarter between April 1 and June 30.
The net profit of Travellers, which is a result of the collaboration between Alliance Global Group Inc. and Genting Hong Kong Ltd., was PHP4.0 billion for the past nine months, marking a twelve-percent increase as compared to 2013.
The company offers a total of 1,226 rooms to the guests of its three hotels – Maxims, Remington and Marriott. The occupancy rates for this year’s third quarter were 89%, 95%, and 83%, respectively. Here it is important to note that the facility is situated nearby the Manila International Airport.
Travellers’ earnings before the subtraction of interest, taxation, depreciation, and amortization for the period between July 1 and September 30 were the total sum of PHP2.8 billion. In other words, the company scored a 41.6-percent rise in comparison to last year’s PHP2.0 billion.
The Philippine-based firm also announced that the construction process of its new casino project started in October. The venue, located in Entertainment City in Manila, is to be completed by 2018. The first phase of the project is intended to provide between 1,200 and 1,500 hotel rooms under the best-known Genting Grand, Crockfords, Westin, and Okura brands. What is more, it was announced earlier today that phases 2 and 3 of Travellers’ endeavor have also been worked on.
Phase two of the project includes the expansion of the premises of the Marriott Hotel Manila. In addition, a ballroom and more rooms for the guests are also to be provided. The first is to be opened by March 2015 and the new West Wing of the hotel is to start accommodating people in 2016.
As for phase 3, it involves three hotels – the Hilton, the Sheraton Hotel, and Maxims Hotel. Gamblers will also benefit from this phase of the project, for new gaming area is to be created. The provision of more shopping space and bigger parking lot are also included in this phase of the project. Travellers promised that it will be finished by 2017.
