Alliance Global bets on mass tourism, premium whisky to fight headwinds
Kevin L. Tan
Alliance Global Group Inc. (AGI), the holding company of tycoon Andrew Tan, is confident that its growth trajectory remains intact, credit to a diversified investment portfolio that keeps it resilient against ongoing geopolitical challenges.
“We entered 2026 with a strong balance sheet and sufficient liquidity across the group, which is what really matters when the outlook is uncertain like this,” said AGI President and CEO Kevin L. Tan during the firm's annual stockholders' meeting.
He noted that while inflation, high interest rates, and softer global demand persist, “our subsidiaries each carry healthy cash positions and well-managed debt, and that gives us room to absorb shocks without compromising our growth plans.”
Diversification across its property, spirits, and tourism businesses—as well as across its products and services—continues to work in AGI’s favor, mitigating risks amid a tougher economic cycle.
“On top of that, we plan to keep up cost efficiencies that we have built into the businesses over the years. And that is what allows us to stay on the front foot even when conditions are uncertain,” Tan explained.
Megaworld remains the primary growth engine for the group, and Tan noted that “it is performing very, very well.” This year, the property developer will pursue bespoke project launches in high-opportunity markets.
Meanwhile, Travelers International Hotel Group Inc. will reinforce its presence in the leisure and tourism segment. The company is set to expand its integrated resort operations, opening Westside Resorts Manila in Entertainment City by the fourth quarter of this year, alongside the luxury Narra Palm Resort and Villas development in Newport.
“Travelers International continues to build on Newport World Resorts as our flagship integrated resort," Tan said. "The clearest trend in the business is the continued strength of the mass segment, and that is where we are focused while we manage the VIP side carefully.”
At the same time, the firm is deepening the non-gaming side of its resorts by improving its hotel, dining, retail, and event offerings to elevate the overall guest experience.
“We are also growing our presence in the digital gaming space, which is becoming an increasingly important channel,” Tan added.
Concurrently, Emperador Inc. continues to invest in its brands—particularly in Scotch whisky, where the long-term premiumization opportunity lies—while driving cost efficiencies across the business to protect and expand margins.
“Together, the brand equity, the breadth of our portfolio, and the discipline on costs position Emperador well for the next leg of growth,” said Tan.
He noted that “Emperador's strength comes from the brands and the breadth of the portfolio. Brandy is our foundation, anchored by our clear market leadership here in the Philippines, while our Scotch whisky businesses give us an extensive presence across the international market through some of the most respected names in the category.”
Tan pointed out that Emperador caters to every price point, from accessible everyday brands to premium and luxury labels, allowing it to capture demand wherever the consumer happens to be in the economic cycle. “That diversity is exactly what you want in a softer global spirits market,” he said.