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Travellers Q3 results; City of Dreams MNL sets soft/grand opening schedule

TAGs: city of dreams manila, Kirby Garlitos, melco crown philippines, Philippines, Resorts World Manila, travellers international

Travellers Q3 results; City of Dreams MNL gets soft/grand opening scheduleTravellers International Hotel Group Inc., which owns Resorts World Manila, posted a total gross revenue of Php8 billion in the third quarter of 2014, a 4.7% year on year increase.

Gaming revenues contributed P7.2 billion of the total, while non-gaming revenue such as hotel, food and beverage came in at P772.3 million.

“Hotel occupancy for the period remains solid with all three hotels—Maxims, Remington and Marriott—registering occupancy rates of 89%, 95% and 83%, respectively,” the company said.

In the first nine months of 2014, Travellers posted a net profit of Php4 billion, 12% better over the same period last year. Likewise, the company’s 3Q14 EBITDA went up to Php2.8 billion, a year on year increase of 41.6%.

Travellers’ two expansion projects in Resorts World Manila are also on schedule. The phase two expansion involving the Marriott is expected to be completed by March 2015 with the Marriott West Wing expected to be operational by 2016. The phase 3 expansion is expected to be completed by 2017 and will include the opening of the Hilton Manila and the Sheraton Hotel Manila, in addition to an extension of Maxims that will include a new gaming area.

Melco announces City of Dreams Manila’s opening schedules

Meanwhile, Melco Crown (Philippines) has announced the soft opening and grand opening schedules for City of Dreams Manila.

Premium Leisure Chairman Willy Ocier told the Manila Standard Today that the joint project between Melco Crown and Premium Leisure is set to have its soft opening in December with the grand opening scheduled before the 2015 Chinese New Year.

“We are excited about the imminent opening of City of Dreams Manila,” Melco Crown Chairman Lawrence Ho said in a statement. “We are planning on opening the doors to customers in December for a sneak peak of what the property has to offer before a grand opening prior to Chinese New Year in 2015.”

Ho said that initial clamor for rooms and gaming tables in City of Dreams Manila has been high, with demand already exceeding supply.

“We have more demand than available rooms and tables for junket partners in the Philippines,” he said. “The Philippines gaming market continues to grow strongly and we believe the introduction of City of Dreams to Manila, with its collection of world-class brands and attraction will significantly strengthen Manila’s appeal to local and international customers who are seeking an exciting leisure and entertainment experience.”

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