Newport World Resorts appoints Englebert Teh as chief strategy officer
Teh will be in charge of leading the operator’s corporate strategy team.
The Philippines.- Newport World Resorts has announced in a post on LinkedIn that it has appointed Englebert Teh as chief strategy officer. He is tasked with leading the operator’s corporate strategy team.
Teh has over ten years of expertise in investment-related positions within real estate and infrastructure and was most recently the head of investment and asset management at Arch Capital Philippines. Before this, he served as the chief financial officer at MREIT, a Megaworld Corporation real estate investment trust. Megaworld is affiliated with the Philippine conglomerate Alliance Global Group, to which Newport World Resort operator Travellers International Hotel Group (TIHGI) also belongs.
Teh has also held positions at other companies, including Primeiro Partners and San Miguel Infrastructure.
The company said: “The company said: “His expertise will be instrumental in taking Newport World Resorts to even greater heights. Let’s give Engle a warm welcome and support him as he leads our Corporate Strategy team in delivering epic and thrilling experiences to our guests.”
In June, TIHGI appointed Laurence Hawke as its new chief financial officer (CFO). Hawke has 30 years of experience in the integrated resort sector and most recently held the position of group CFO at Hoiana Resort & Golf in Vietnam. Hawke reports to Nilo Rodriguez, Travellers International’s president and chief executive.
For the third quarter of the year, TIHGI reported gross gaming revenue (GGR) of PHP7.33bn ($124m). That’s down 11.5 per cent when compared to last year and 20.1 per cent quarter-on-quarter. The company reported a net loss of PHP81m (US$1.4m) for the quarter ended September 30. That compared with a loss of PHP21m (US$356.517) a year earlier. Cost and expenses for Travellers International decreased by 10.7 per cent year-on-year and 15.3 per cent quarter-on-quarter.
For the first nine months this year, Travellers International reported aggregate revenues of PHP23.63bn, up 0.9 per cent from a year earlier.
