Travellers International Hotel Group, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter ended of March 31, 2017
May 14, 2017 at 08:30 pm EDT
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Travellers International Hotel Group, Inc. reported unaudited consolidated financial results for the first quarter ended of March 31, 2017. For the quarter, the company reported EBITDA of PHP 1.4 billion. Gross gaming revenues reached PHP 5.3 billion with improved performance from the non-VIP segment as revenues grew by 10% year on year. While the non-gaming revenues increased by 9% year on year, ending the quarter at PHP 1.1 billion. Operating revenue was PHP 5,261,625,129 compared to PHP 5,573,009,279 a year ago. Profit before income tax was PHP 688,454,919 compared to income before income tax of PHP 1,162,855,587 a year ago. Net income after tax was PHP 685,068,637 compared to PHP 1,159,252,072 a year ago. Net income attributable to equity holders of the parent was PHP 685,977,436 compared to net income attributable to equity holders of the parent of PHP 1,160,426,328 a year ago. Basic and diluted earnings per share was PHP 0.04 compared to earnings per share of PHP 0.07 a year ago. Book value per share was PHP 2.69 as of March 31, 2017. Net cash flows from operating activities were PHP 1,221,030,011 compared to PHP 1,513,835,003 a year ago. Acquisitions of property and equipment were PHP 2,337,973,046 compared to PHP 1,952,827,699 a year ago. Net revenues were PHP 5,818,665,404 against PHP 5,927,572,063 a year ago. Operating profit was PHP 954,463,306 against PHP 992,212,182 a year ago.
Travellers International Hotel Group Inc is a Philippines-based developer and operator of Resorts World Manila, an integrated tourism resort in the Philippines. It is developing several new hotels and other gaming and non-gaming attractions at Resorts World Manila. Its offerings include hotels, restaurants, shopping, Newport cinemas, shows and events, nightlife and casino. Resorts World Manila is an approximately 11.5-hectare integrated tourism resort owned by the Company that is strategically located across from the Ninoy Aquino International Airport (NAIA) Terminal 3 (NAIA-3) in Pasay City, Manila and approximately five kilometers away from each of NAIA Terminal 1 (NAIA-1) and NAIA Terminal 2 (NAIA-2) and directly linked to Makati. The Companyâs subsidiaries include APEC Assets Ltd. (APEC), Bright Leisure Management, Inc., Grand Venture Management Services, Inc. Grand Services, Inc., Grand Integrated Hotels and Recreation, Inc. and Newport Star Lifestyle Inc.