Travellers, the owner and operator of Newport World Resorts in Manila saw its core revenues increase by 20 percent quarterly and 16 percent yearly, reaching PHP8.5 billion.
In the recent financial results of Traveller’s parent company, Alliance Global, released on Wednesday, the company indicated that for the first six months of the year revenue hit PHP15.6 billion, a yearly increase of 2 percent.
The group notes that this was ‘primarily due to the growth in the non-gaming segment as foot traffic, occupancy rate and hotel average daily rates reached record highs’.
Net gaming revenues reached PHP11.93 billion in 1H24, ‘with the decline YoY in gross gamin revenues and promotional allowance swayed by overall volume driven by the VIP segment’.
Non-gaming revenues were up 11 percent yearly, to PHP3.7 billion ‘due to growth in F&B covers, occupancy rates and average daily rates’.
Hotel occupancy rates for the five hotels in the property ranged between 77 percent and 99 percent.
Travellers International Hotel Group accounted for 15 percent of AGI’s consolidated revenues and income and 3 percent of its consolidated net profit.
Looking ahead, the AGI group ‘remains optimistic in its prospects’.
