RWM readying last phase of Newport City expansion | Inquirer Business

RWM readying last phase of Newport City expansion

/ 03:29 AM June 19, 2015

Resorts World Manila (RWM) owner and operator Travellers International Hotel Group Inc. is planning the fourth and last phase of expansion of its integrated gaming resort complex, Newport City, while going full-blast with the construction of a new hub in Pagcor Entertainment City which is targeted to open by 2019.

The company has earmarked P8 billion for capital spending this year, mostly to complete the third phase of Newport City’s expansion, Travellers president Kingson Sian told reporters after the company’s annual stockholders meeting yesterday.

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The company is spending $650 million for the second and third phases of Newport City’s expansion and is now almost halfway through.

In March, the group opened the Marriott Grand Ballroom (MGB), so far the largest ballroom in the country, which has a capacity of 4,000 in a theater-style setup and 2,500 for sit-down dinner format.

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Part of the ongoing phase 2 expansion is the opening of the Marriott west wing in Newport City, adding more hotel rooms under the Marriott brand. Overall, Travellers plans to increase its hotel capacity in Newport City to 4,200 rooms in the next four years from the existing 1,226 rooms. The company hopes to achieve this through the expansion of Marriott and Maxims Hotels, and the development of new hotels—Hilton Manila Hotel, Sheraton Hotel Manila and Belmont Hotel.

For the fourth and final phase of Newport City expansion, Sian said Travellers would use up to two hectares of land currently occupied by two steel car park facilities.

“In terms of land, it’s going to be slightly bigger or as big as the phase 3 that we’re building, but it will not be for gaming. It will be a mall plus a 1,000-room hotel on top of it,” Sian said.

“Within the next five years, we want to build phase four. That’s the last phase for here because we have no more land,” Sian said.

Under phase 3, it plans to build a retail strip which is expected to be completed by 2017. It will also include additional gaming area and parking decks.

For the fourth phase, Travellers plans to put up a bigger, multi-level shopping mall which is targeted for completion by 2019 or 2020, Sian said. The establishment of additional non-gaming facilities, Sian said, was part of Travellers’ bid to build a “predictable, sustainable and balanced business model.”

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TAGS: Newport City, Pagcor Entertainment City, Resorts World Manila, RWM, Travellers International Hotel Group Inc.
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