Travellers International pours up to $450 million into Westside Resort
Banking on the recovery of the physical gaming market, Travellers International Hotel Group Inc. and its minority partner Suntrust Resorts Holdings Inc. are investing $300 million to $450 million to complete the $1.25 billion Westside Integrated Resort.
In an interview, Travellers International President and CEO Nilo Thaddeus Rodriguez said, “We’re targeting (to open Westside) the third quarter of 2026. We’re maybe 70 percent (complete) already,” adding that it will be a phased opening and will not be fully completed until 2027.
Tycoon Andrew Tan’s TIHGI recently took control over the project from Suntrust, which had scaled down its involvement to a 20 percent stake from the original agreement to build and operate the integrated resort due to financial challenges of its parent company, Fortune Noble of the LET Group of Hong Kong. Tan’s Megaworld Corporation also owns about 34 percent of Suntrust.
In line with its reduced 20 percent interest, Suntrust has recently infused ₱3.2 billion in capital into the new entity in charge of the project, Entertainment City Resorts Corporation, which is roughly 20 percent of the amount still to be spent to complete the project.
Rodriguez said the Travellers Group has decided to take the helm for the project to speed up its completion as they continue to be confident about the recovery of the physical gaming market despite current challenges.
He noted that, with two casino resorts in Metro Manila, Newport and Westside, Travellers International will be able to offer its customer base two different experiences, with Westside being more upscale and similar to Singapore’s Marina Bay Sands or Macau.
“By extending our integrated resorts footprint, we are not only scaling up but also creating new experiences for customers and growing the market itself,” said Rodriguez.
He pointed out that, “There's still growth in the market. You see just the headwinds and all, but it's really helping consolidate that (Newport and Westside) and offer that to the market.”
Meanwhile, he said growth will come with the recovery in the country’s tourism sector, pointing out that, “The China market's still not back. So that's a big gap that hopefully the government will be able to address.”
Rodriguez cited steps being taken by the government to make it easier to travel from China to the Philippines, such as making adjustments to visa policies, which is seen to boost the arrival of Chinese tourists.
While the Chinese government is trying to limit gaming tourism, Rodriguez said, “At the end of the day, governments will be a bit more practical. We're also seeing that in Macau. The restrictions on movement between Macau and China have eased a lot. Now, in the second quarter, for Macau, because of more movement, there's a surge in their gross gaming revenues again.”
The Westside City project will feature over 2,500 hotel keys across three brands, more than 2,000 gaming machines and tables, a curated lineup of restaurants and lifestyle concepts, and a theater district led by the Apollo Theater and the Grand Opera House.