GGRAsia – Okura hotel at RW Manila likely end 1Q2020 launch: firm

Okura hotel at RW Manila likely end 1Q2020 launch: firm

Dec 06, 2019 Newsdesk Latest News, Philippines, Top of the deck

The opening of Hotel Okura Manila at the Resorts World Manila casino resort in the Philippine capital is on track for the end of the first quarter of 2020, said the property’s promoter in a written reply to GGRAsia.

“Due to some design changes, the launch of Hotel Okura Manila is expected to be [by the] end of first quarter 2020, but some of its food and beverage outlets will be opening before year-end,” a spokesperson from Travellers International Hotel Group Inc said in the e-mail statement to us.

Travellers International is a joint venture between Philippine-based Alliance Global Group Inc and Hong Kong-listed Genting Hong Kong Ltd, the latter controlled by Malaysian conglomerate Genting Bhd.

Hotel Okura Manila is part of an expansion of Resorts World Manila (pictured), called the Grand Wing. The new wing comprises the Hilton Manila, which opened in 2018, the Sheraton Manila Hotel, opened earlier this year, and Okura Manila, which brings the Grand Wing hotel room count to approximately 940.

The opening of the 188-room Hotel Okura Manila will take the total room count at the Resorts World Manila complex to approximately 3,500.

“The Grand Wing facility comprises [additional] gaming, hotels, and retail. It should be fully completed once Hotel Okura Manila is open,” the spokesperson told GGRAsia.

Based on previous company disclosures, the Grand Wing’s gaming area has approximately 14,000 square metres (150,695 sq feet).

Following the opening of the ground-floor gaming area of the Grand Wing in 2018, the property’s gaming capacity increased to 299 tables and 1,822 slot machines as of December 31, 2018. That compared with 244 tables and 1,381 slot machines as of end-2017.

As of the end of June 2019, Resorts World Manila had 301 casino tables, 1,802 slot machines and 100 electronic table games.

“Theoretically, the new wing could add the same amount of gaming capacity” as that of the original venue, said the Travellers’ spokesperson.

Travellers International said in August that its net profit for the second quarter fell by 51.8 percent year-on-year, to nearly PHP600.3 million (US$11.8 million). The decline in profit was despite an increase in revenue for the period, the company said at the time.

The shares of Travellers International stopped being traded on the Philippine Stock Exchange on October 21, after a voluntary request for delisting.