Operator News
Philippines – Resorts World Manila looking for double-digit growth with new floor
By Phil - 18 June 2019
Travellers International Hotel Group, (TIHGI), the owner and operating force behind Resorts World Manila is targeting double-digit growth in 2019 as it reopens its second floor closed since the arson attack of 2017 that killed 38 people.
TIHGI President and CEO Kingson Sian revealed that with the partial opening of the Grand Wing in 2018, additional gaming spaces were added to the existing Garden Wing and Holiday Inn Express casinos, allowing the company to further improve its premium and VIP segments. The partial opening brought the total number of gaming tables in the casino up from 233 to 300 with the number of EGMs increasing from 1,321 to 1,830. The complete opening of the second floor will bring an extra 100 gaming tables and 600 slot machines to the casino.
The new facility will also increase the number of hotel rooms to around 3,555, the most number of rooms in a single property, with the recent opening of Hilton Manila in October 2018, Sheraton Manila Hotel in January 2019, as well as the upcoming opening of Hotel Okura Manila, collectively adding 940 hotel rooms at the Grand Wing.
Mr Sian said: “For the past two years, our efforts have been focused on rebuilding and expansion. That focus is reflected in our performance last year. We’ve been receiving very positive comments after the soft opening of the Grand Wing last year. This will bring an entire new floor of gaming space. As we expand the gaming space, we are attracting not only locals but also foreign players to come, and we can develop new junket relationships. We are confident that we can deliver sustainable top line and EBITDA growth moving forward. With the opening of Hotel Okura Manila in the second half of this year, total room count at the Resorts World Manila complex will be approximately 3,500, supporting the continued growth of the Philippine tourism industry.”
In 2018, Travellers showed positive results for both gaming and non-gaming segments, with total gross revenues amounting to Php24.7bn. EBITDA and net income for the year amounted to Php3.9bn and Php1.4bn, respectively.
TIHGI’s gross gaming revenues rose to Php 20bn in 2018, while non-gaming gross revenues reached Php 4.7bn. Foot traffic averaged close to 28,500 per day, ending with a total of 10.4 million guests by the end of the year. Meanwhile, average occupancy rates for Marriott Hotel Manila, Maxims Hotel, Hilton Manila, and Holiday Inn Express Manila Newport City remained steady at 79 per cent.
