Roxas and Company, Inc.

Press Releases / News Updates


[November 15, 2021]-Manila

In its Third Quarter 2021 SEC filing, RCI reported that consolidated YTD Sept 2021 revenues exceeded 2020 by 150%, with all of its subsidiaries beating year-ago performance. The strong top line growth was due to higher occupancy rate in its four GO Hotels, a surge in the volume of coconut cream sold, and the sale of real estate assets in Nasugbu,Batangas during the first quarter of the year. Net Loss was trimmed to P85.7M compared to the P1.2B Net Loss in the same period of 2020 due to aggressive new business acquisition and organic growth of existing customers, cost containment and restructuring in Covid and recession-affected units, lower equity loss from an affiliated company, and the recognition of a P175M one-time gain on transfer of a real estate asset. Its Anya Resort Tagaytay, which has reopened its doors to guests after LGU easing of extended restrictions on leisure travel, has rebounded with record bookings.

Apart from its luxurious hotel suites, relaxing heated pools, and delectable cuisine in its two restaurants, this award-winning hotel offers an improved wellness center and introduced exciting food offerings from Chef Chele Gonzales. The pandemic boosted the occupancy of the GO Hotels of Roxaco Asia Hospitality Corporation (RAHC) due to sustained quarantine room demand. RAHC is shifting its focus to the regular leisure travel segment due to shorter quarantine days and increase in people mobility as a result of higher vaccinations.

Real Estate prospects are picking up with several outright sale and joint venture options for strategically located properties of Roxaco Land Corporation (RLC). Included in this is the commencement of development of Phase 2 and 3 of the Anya Resort Residences. The manufacturing plant of Roxas Sigma Agriventures, Inc. (RSAI) completed its facility repairs and maintenance and is set to resume full production by third week November 2021 which will coincide with release of the second P50M working capital loan from DBP.

« Back to Press Releases / News Updates Index