|By Krista Angela M. Montealegre, The
Manila Times, PhilippinesMcClatchy-Tribune Regional News
Nov. 26, 2011--ALLIANCE Global Group Inc. (agi) expects average foot traffic in Resorts World Manila to more than double by next year as the company continues to develop more projects in the country's first integrated tourism estate in Pasay City. Kingson Sian, AGI president, told reporters that visitors in Resorts World Manila may reach 35,000 to 40,000 toward the end of 2012, or higher than the initial projection of 25,000 to 30,000 the executive issued in June.
"The more we build, the more people will come," said Sian.
Resorts World Manila attracts an average of 18,000 to 20,000 visitors every day, 16,000 of which are concentrated on its casino operations. On a good day, foot traffic can go as high as 30,000, Sian said.
AGI, through Travellers International Hotel Group Inc., will add four hotels in Resorts World Manila, consisting of two five-star hotels and two four-star hotels. The new hotels will raise its aggregate room count to about 2,700.
Travellers' existing hotels in Resorts World Manila are also undergoing expansion. The six-star Maxims Tower will add 50 to 60 super-sized suites designed for "super VIPs," while the five-star Marriot Hotel will add no more than 100 rooms.
Early this month, Travellers opened the 712-room Remington Hotel, which increased room count in Resorts World Manila to 1,226. Travellers is constructing a convention center/ballroom within a 1.2 hectare lot in front of the Marriot Hotel that is scheduled to be operational by 2014.
Upon the completion of the said projects, AGI earlier said its total investment in Resorts World Manila may balloon to $1 billion in the next five years from its current $650 million.
AGI is expected to have a banner year, driven by the strong performance of its tourism, real estate and consumer businesses, Sian said.
The conglomerate's profit attributable to equity holders rose by 83.8 percent to P9.9 billion in the first three quarters from the previous year's P5.39 billion. Including non-recurring gains, AGI's profit hit a record P12.3 billion in the January to September period, 62.6 percent higher than the P7.6 billion reported a year ago and surpassing last year's P9.5 billion.
Travellers, a joint venture between AGI and the Genting Group, is on track to double its profit to P6.4 billion this year from P3.2 billion in 2010, driven by the growth of its local and foreign VIP as well as the mass market. In the first nine months, its net income grew by 68 percent to P4.2 billion for the period.
AGI shares rose to P10.28 each on Friday from P9.94 on Thursday.
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