Newport World Resorts reports steady increase in GGR in Manila
Manila’s Newport World Resorts, owned by Travellers International Hotel Group, saw its first quarter revenues increase by six per cent by US$142m with EBITDA rising by 42 per cent.
The casino benefited from the recovery of the VIP segment, allowing it to buck the trend of falling GGR in Manila.
Travellers Chairman Kevin Tan said: “Despite ongoing macro headwinds, we maintain our optimistic outlook for the balance of the year. We have laid out exciting plans across our various business segments, ready to take advantage of the resilient consumer spending and a resurgence in global economic activity. We look forward to sustaining our robust start and being able to finish strong.”
Newport World Resorts holds the highest hotel room key count in a single property across five international hotel brands, MARRIOTT Manila, SHERATON Manila Hotel, HOTEL OKURA Manila, HILTON Hotel Manila, and HOLIDAY INN EXPRESS Manila Newport City; and two affiliate hotels BELMONT Manila and SAVOY Manila. The sprawling property also features a wide range of Meetings, Incentives, Conferences, and Exhibitions (MICE) venues, including the three-story convention center that houses the country’s largest hotel ballroom, the Marriott Grand Ballroom.
