Travellers’ revenue rises

 

Revenues for Travellers International Hotel Group Inc. rose 47.2 percent in the first quarter to 10.5 billion pesos ($255.8 million) as net profits rose 16.5 percent to 995 million pesos. Gaming revenues rose 53.6 percent to 9.41 billion, reported Alliance Global Group Inc., which co-owns Travellers with Genting Group. Travellers, which owns Resorts World Manila and is developing Resorts World Bayshore, said higher gaming capacity and increased property visits drove the improvement. The owners are preparing to hold an initial public offering for Travellers of at least $500 million.