Travellers Hotel Group 2013 profit plunges on financings costs, forex losses

    Travellers Hotel Group, the operator of Resorts World Manila, said its net income plunged 59 percent last year to PHP2.74 billion ($60.5 million), hurt by financing costs and forex losses. The company had 2.04 billion in financing costs. Gross revenue rose 7 percent to PHP33.38 billion. The volume of VIP players was up by 27 percent, while the mass market numbers were up 8.5 percent. Electronic table game volumes gained 31 percent.