Melco in a financial statement filed with the Philippine Stock Exchange attributed the company’s strong first-half financial performance to improved operating revenues generated during the period. Total operating net revenues surged 64 percent to P16.67 billion from P10.15 billion a year ago. Operating profit in the first half of the year as a result soared 2,528 percent to P1.76 billion from just P67 million in 2016. Net operating revenues in the second quarter reached ₱8.79 billion, up 56 percent from P5.62 billion in the same period last year. City of Dreams Manila also includes the approximately 260-room Crown Towers hotel, Hyatt City of Dreams Manila, a 365-room hotel managed by Hyatt International Corp. and, Nobu Hotel with 321 rooms.

Source: The Standard August 15, 2017 11:48 UTC