Capacity growth lifts revenue for Travellers

Net profit for Travellers International Hotel Group Inc., operator of the Resorts World Manila casino hotel complex, rose 24.9 percent for the first half of the year from the same period in 2012 to 2.31 billion pesos ($53 million). Manila-listed Alliance Global Group Inc., which co-owns Travellers with Malaysia’s Genting Group, said gaming revenues rose 27.7 percent to 17.4 billion pesos on increased capacity and a 12 percent rise in visitation, which it credited to a series of shows, holiday promotions and concerts. Travellers last month postponed a $600 million initial public stock offering and said it would prioritize the expansion of Resorts World Manila over the development of Resorts World Bayshore in Manila’s Entertainment City project.