Travellers sets P10-B capex for Resorts World

TRAVELLERS International Hotel Group Inc. on Friday said it will spend up to P10 billion this year mainly for the construction of Phase 3 of Resorts World Manila as it remains bullish about the industry’s growth despite the current glut of casinos in the country.

“The combined cost for Phase 2 and Phase 3 is around $400 to $450 million. So, the P8-P10 billion capex will be for the completion of Phase 2 and mainly for the construction of Phase 3,” Kingson Sian, president and chief executive officer of Travellers, told reporters at a press briefing after the company’s stockholders’ meeting.