Resorts World Manila developer and operator Travellers International Hotel Group Inc. is spending around $650 million to double the gaming and hotel room capacity of its pioneering hub in Newport City by 2017.
For this year alone, Travellers–a partnership between the group of tycoon Andrew Tan and Malaysia’s Genting group—has earmarked about P9 billion to start the expansion of hotel, retail and gaming facilities in Newport City, which debuted five years ago, Travellers president Kingson Sian reported during the company’s stockholders’ meeting on Friday.
Phase 2 involves the expansion of Marriott Hotel Manila complex by 227 hotel rooms to reach 569 rooms by end-2015 alongside the construction of a grand ballroom, which is expected to start operations by the first quarter of 2015.
“We’re building the largest ballroom in the country which will be called the Marriott Grand Ballroom. It will seat around 2,000 people (in) tables of 10 and close to 4,000 people theater style,” Sian said, adding that additional retail area would likewise be opened.
Phase 3 expansion will involve the construction of two new hotel properties—Hilton Manila and the Sheraton Hotel Manila—as well as an extension of Maxims Hotel, which will contribute another 877 rooms.
Resorts World Manila today has about 420 gaming tables and a total of 4,000 gaming machines, which will be doubled by 2017, Sian said.
As of end-March, Travellers has spent P34.3 billion for its casino projects pursuant to its investment commitment under the provisional license obtained from the Philippine Amusement & Gaming Corp. The completion of phase 2 and 3 expansion will bring to at least $1.2 billion the group’s total investment in Newport City.
This won’t be the end of Newport City’s expansion, Sian said, as there was still space available for phase 4 expansion in the areas now used as two carparks. This area was earlier estimated at 1.4 to 2 hectares.
On high-roller or VIP (very important person) business, Sian said Travellers was “quite optimistic that this year will surpass last year” in terms of performance.
Despite the diplomatic chill between the Philippines and China, the latter is is currently Newport City’s biggest foreign VIP market accounting for 30 percent of foreign VIP gamers.