Resorts World Bayshore City Inc. (RWBCI) broke ground on Wednesday at the Bagong Nayong Pilipino Entertainment City complex in Parañaque City for the development of the $1.1-billion Resorts World Bayshore. The resorts project will open in 2018.
RWBCI is 95 percent owned and controlled by the Andrew Tan-led Travellers International Hotel Group Inc., an integrated gaming, hotel and resorts developer.
“The 31-hectare Resorts World Bayshore City will complete the Philippine Amusement and Gaming Corp.’s (Pagcor) Entertainment City comprised of four integrated resorts, which are expected to significantly contribute to Philippine Tourism in the coming years,” the company said.
The four integrated gaming and resorts developments in Entertainment City are the Resorts World Bayshore, City of Dreams Manila, The Manila Bay Resorts, and the Solaire Resort & Casino.
The project’s Phase 1, or the inital 16 hectares of the development, will consist of four new hotel brands that will have more than 800 rooms, casino and shops, and more than 3,000-seater Grand Opera House, among others.
The hotel brands to be opened within the Phase 1 include Okura Hotel Manila of the Okura Hotels & Resorts Group, The Westin Hotel Manila Bayshore of the Starwood Asia Pacific Hotels & Resorts Group, as well as the Genting Grand and Crockfords Tower under the Genting Hong Kong Group.
The whole development is seen to generate more than 1,500 hotel rooms upon completion.
“Travellers’ 95-percent ownership of RWBCI effectively makes us the biggest leisure and entertainment company in the Philippines. Combined, the two properties will offer potentially a total of 5,100 hotel rooms,” Travellers President Kingson Sian said.
“With the current developments at both Resorts World Manila and Bayshore City Resorts World properties, Travellers continues to push the envelope in the integrated resort industry as it will be the only player in the country to house Marriott, Sheraton, Hilton, and Westin hotels, which are the top choices for business travelers when it comes to the best loyalty programs for guests, according to Fortune Magazine,” he added.
Travellers grew its first semester net income by 25 percent to P2.9 billion compared to P2.3 billion a year ago on strong hotel occupancy of Maxims, Remington, and Marriott hotels within the Resorts World Manila.
For 2014, the company earmarked P7 billion for capital expenditures to speed up Resorts World Manila’s Phase 2 and Phase 3 expansion, which would add 2,400 hotel rooms by 2017.