Travellers International posts net income of US$20 million for 2019

Travellers International Hotel Group, the owner and operator of Resorts World Manila, posted a net income of PHP945 million (US$20 million) in 2019, down 35 percent the previous year.

Consolidated revenues grew 38 percent year-on-year to PHP28.3 billion, but the firm faced higher costs from new facilities at Resorts World Manila, as well as increased interest charges.

GGR came in at PHP27.6 billion, up 38 percent, due mainly to the VIP segment and improvement in volume and hold rates.

Travellers International no longer publicly issues its own financial reports, but the 2019 figures were revealed by its joint venture partner Alliance Global Group.