Tuesday, August 16, 2022

Travellers optimistic of continuing double-digit growth

Travellers International Hotel Group president Kingson Sian is confident that the group will continue tracking double-digit growth after a strong first quarter, local media reports.

Mr. Sian made the comments in an interview after the firm’s annual stockholders’ meeting, adding that growth will ride on the expansion of its hotel business as well as its gaming business.

According to Sian, the company is also looking to reopen the second floor of Resorts World Manila in July, which has been closed since a lone gunman attack in 2017.

“That will be an entire new floor of gaming space, so 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 cause we can provide new space," he said.

With the opening of the second floor again, Mr. Sian said the y will have a total of 165 tables and around 1,000 slot machines in the Grand Wing.

The company is expecting average daily foot traffic to improve to 40,000 to 50,000 by next year, compared to its 2018 average foot traffic of 28,500.

Apart from the gaming floor, Travellers’ hotel portfolio is also set to increase, reaching 3,555 keys by the end of the year after opening Hotel Okura Manila at RWM - which adds 940 keys to the portfolio.

Travelers reported a 46.5 percent gain in net revenue for Q1, helped by gaming and non-gaming activities. Net profit, however, fell in the quarter, due to increasing costs.

Travellers International is a joint venture between Genting Hong Kong and Alliance Global and operates the Resorts World Manila IR.

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