Travellers International net income up P1.7 billion

Resorts World Manila owner and operator Travellers International Hotel Group Inc. posted a 1.6% year-on-year growth in Q1 to P1.7b ($38.2m).

In a statement, Travellers said it continued to “pursue quality of earnings and operating efficiency while growing its stronghold in the mass and retail segment.”

Gaming revenues fell to P6.8b, about 5.5% lower than the P7.2b reported in the same period last year. Non-gaming revenues from hotel, food and beverage and other sources went up 36% to P780.5m from P575.32m in the same quarter last year.

The company said the hotel performance for the first quarter remained solid with all three hotels—Maxims Manila Hotel, Remington Hotel and Marriott Hotel Manila—recording occupancy rates above 85%. Total room count for the three hotels remains at 1,226.