Galaxy Macau Adds New Boutique Hotel Project To Phase 3 Development
Summary:
- The new hotel is part of Phase 3 of Galaxy Macau
- Galaxy Entertainment formally launched Phase 3 of the casino resort this week
- The company expects to increase its non-gaming investment in Macau in 2024
Macau casino operator Galaxy Entertainment Group (GEG) has unveiled the initial details of a new hotel project that will be built at the Galaxy Macau integrated resort on Cotai.
The new facility will include “innovative” features never seen in Macau before, according to the group’s deputy chairman Francis Lui Yiu Tung.
New Boutique Hotel to Rise at Galaxy Macau in 2024
Mr. Lui attended the official launch of Phase 3 of Galaxy Macau on December 13 where he indicated that more facilities will be added to the property, including a new hotel which could see most of its works completed within 2024.
The Phase 3 development includes the Galaxy International Convention Center (GICC), the 16,000-seat Galaxy Arena, and two hotel establishments – The Raffles and Andaz Macau. The new hotel project dubbed “Phase 3D” will represent Galaxy’s tenth hotel brand.
Speaking to reporters on the sidelines of the Phase 3 opening ceremony, Mr. Lui stated that the new project will be a boutique hotel with not more than 100 rooms. The special hotel will be the first-of-its-kind in Macau and will target “high-end” customers, he revealed. Mr. Lui did not provide further details on when the new hotel will open.
The new facility is part of GEG’s 2024 investment programme linked to its concession commitment to the Macau government. Mr. Lui said the company will strive to complete a large part of next stage of Phase 3 redevelopment next year while accommodating multiple events primarily in sports and entertainment.
The Galaxy Arena will be the venue of the table tennis singles World Cup in April 2024 and will also host the Women’s Volleyball Nations League from May to June. Additionally, GEG will host more than 50 major concerts and 250 MICE events next year, as earlier announced by the group’s chief operating officer for Macau, Kevin Kelley.
Casino Operators May Need To Increase Non-Gaming Investment
Mr. Lui also stated that the company could boost its concession-related investment in 2024 as the MOP180 billion (US$22.37 billion) gross gaming revenue (GGR) threshold might be surpassed this year. Under the concession rules, Macau casino operators are required to top up their investment in non-gaming and overseas marketing if the annual GGR threshold is reached.
David WalkerAuthor
David is our resident 'down under' contributor, letting us know what is going on in the southern hemisphere, he is also keen blackjack player
