Travellers International Hotel Group Inc, which runs the Newport World Resorts casino and leisure complex in the Philippine capital Manila, posted net profit of nearly PHP30.2 million (US$489,309) for the first three months of 2026, down 70.3 percent from a year earlier.
The firm reported revenues of nearly PHP7.0 billion in the first quarter of 2026, a 9.2-percent decline from a year ago. Cost of sales and expenses decreased by 6.2 percent year-on-year, to circa PHP5.3 billion.
That was according to a Thursday filing from the parent, Philippine conglomerate Alliance Global Group Inc.
The parent said that to “defend profitability amid top line pressures” related with Travellers’ operations, the group “intensified its cost management efforts”.
Such steps resulted in direct costs and promotional allowances being “scaled back” by 5 percent and 23 percent year-on-year, respectively, “limiting gross-profit margin compression to 44 percent,” it said.
The company said non-gaming revenues rose about 10 percent year-on-year, to PHP2.0 billion, “partially offsetting a 15-percent decline in net gaming revenues to PHP5.0 billion”.
Travellers reported first-quarter earnings before interest, taxation, depreciation, and amortisation (EBITDA) of PHP1.7 billion, compared with PHP2.1 billion in the prior-year period.
The parent stated: “Structurally, a resilient mass segment cushioned the impact of overall weakness in VIP gaming, while steady demand lifted performance across the hotels, food and beverage, theatre, cinemas and other service operations.”
In April, Philippines-listed gaming technology provider PhilWeb Corp announced a partnership with Travellers International linked to Newport World Resorts’ online gaming operations as a Gaming System Administrator.
Newport World Resorts (pictured) currently has five international hotel brands: Marriott Manila Hotel, Sheraton Manila Hotel, Hilton Manila, Hotel Okura Manila, and Holiday Inn Express Manila. It offers a total of 2,742 guest rooms.
The group said operational execution in the opening quarter of 2026 “remained strong,” with average occupancy rates across the complex’s five hotels “tracking between 83 percent and 95 percent, matching the high baseline established in the same period last year”.
Travellers accounted for 16 percent of Alliance Global’s consolidated revenues and 0.4 percent of consolidated net profit.
Travellers is also involved in the development of the US$1.25-billion Westside Resort in Manila, including a casino.
Kevin Tan, president and chief executive of Alliance Global, said the group had “an optimistic start” to 2026.
“First-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business, and the nascent recovery in spirits sale,” the CEO stated.
“These businesses continued to perform well even against a demanding macroeconomic and geopolitical backdrop,” he added.
Mr Tan also said the first-quarter performance was “supported by ongoing cost discipline,” embedded in the group’s operations. “This allowed our group to gain operating leverage, while we continue to implement our aggressive business strategies,” Mr Tan noted.
