Travellers Q1 net income down 33.5 percent

Resorts World Manila
Resorts World Manila

Travellers International Hotel Group, owner and operator of Resorts World Manila reported net income at PHP 1.2 billion (US$24.9 million) for 16Q1, down 33.5 percent year on year.

Revenues amounted to PHP 6.6 billion for the three months ended March 31, 2016, compared to PHP 7.6 billion for the same period in 2015.

Gross gaming revenue was down to PHP 5.6 billion in the quarter, from PHP 6.8 billion in the same period in 2015.

The company revenue from its hotel, food and beverage increased by 20.2 percent due to the expansion of its non-gaming facilities.

 Hotel occupancy rate for quarter also showed solid performance, with Maxims Manila Hotel, Remington Hotel and Marriott Hotel Manila, registering an average occupancy rate of 83.3 percent.