TRAVELLERS International Hotel Group Inc., the casino-and-hotel venture partly owned by listed Alliance Global Group Inc. (AGI), is forecasting profit to double this year to approximately P6.4 billion on expectations that demand for gaming activities will remain robust.

In an interview with reporters, AGI president Kingson Sian said Travellers also continues to plan new developments within its main asset, Resorts World Manila, to attract more visitors. Sian said the venture is building the country’s largest “ballroom” on a 1.2-hectare property to be completed by the end of 2013. It is, likewise, eyeing a new five-star hotel on top of four existing or planned hotels within the complex, located in Pasay City. Once completed, Sian said these developments will allow Resorts World to double the daily volume of visitors to 30,000 people. “Asia is the place for gaming. It has the fastest-growing economies so wealth creation in Asia is the largest in the world,” Sian said. At present, 60 percent of Resorts World visitors come from the domestic market with the remainder from neighboring countries in Southeast Asia, China and South Korea.

AGI and its property unit Megaworld Corp. own 40 percent and 10 percent of Travellers, respectively, both of which are controlled by businessman Andrew Tan.

The other 50 percent is held by Genting Hong Kong Ltd., an entertainment company that operates a fleet of passenger ships. Sian said Travellers’ target to double the P3.2-billion net income it booked in 2010 is “very doable” this year with growth expected to be driven across all segments.

Resorts World, which opened in August 2009, also operates a theater and cinemas within the property, as well as retail and commercial segments.

AGI shares rose 2.38 percent to P10.34 each on Friday while Megaworld declined 0.52 percent to P1.90 each.

Meanwhile, Sian said Travellers is on track to open its third hotel in Resorts World, called Remington Hotel, which will cater to the budget market. This will be followed by the four-star Hamilton Hotel.

There are presently two hotels in the area—the five-star Marriott Hotel and the all-suite Maxims Hotel.  

 “We will probably sign up another [five-star] hotel soon. Eventually, we will have close to 2,500 rooms,” Sian said, without naming the hotel operator.

AGI is involved in real estate development, liquor manufacturing and the fast-food sector.