Travelers International Hotel Group Inc, owner and operator of Manila-based casino real estate resort World Manila (pictured), posted total revenue of 8 billion PHP ($177.6 million) in the three months ended Sept. 30, up 4.7% from the same period in 2013.
Game sales contributed 7.2 billion PHP of total revenue, while hotels, food and beverage and other sales posted 772.3 million PHP, it said in a press release on Monday.
Total gaming revenue for travelers in the third quarter of 2014 was up 6.2% year-over-year and 13.2% compared with the three months ended June 30, the company added.
The company, a joint venture between Philippines-based Alliance Global Group and Zenting Hong Kong, posted a net profit of 4 billion PHP in the first nine months of 2014. This represents a 12% improvement over the same period in 2013.
Hotel occupancy at Resort World Manila remained high for the three months ended Sept. 30, with all three hotels – Maxim, Remington, and Marriott – recording 89%, 95% and 83%, respectively. The total number of rooms at the three hotels is 1,226.
The accommodation is near Manila International Airport.
Net income before interest, taxes, depreciation and amortisation (EBITDA) was 2.8 billion PHP for the three months ended Sept. 30, up 41.6% from 2 billion PHP in the same period last year.
Travelers began construction on their second casino resort, the $1.1 billion BayShore City Resort World, in October. Completion of the plan, located in Manila’s Entertainment City, is expected by 2018, according to the company. The first phase of the development will house 1,200 to 1,500 hotel rooms under the Genting Grand, Crockford, Westin, and Okura hotel brands.
Meanwhile, Travelers’ Phase 2 and Phase 3 projects at Resorts World Manila are “on track,” it said in a press release on Monday. 바카라사이트
Phase 2 includes the construction of a ballroom and additional rooms with the expansion of the existing Marriott Hotel Manila. The ballroom is scheduled for commercial operation until March 2015, while the Marriott West Wing will be operational in 2016.
The third phase will consist of three hotels, Hilton Manila and Sheraton Hotel Manila, as well as Maxims Hotel expansion. It will also include a new gaming space, additional retail space, and six underground parking decks. According to Travelers, the third phase is expected to be completed by 2017.
