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The Chinese administrative region of Macau is signing a string of hotel contracts with major groups and luxury brands. A strategy based on the attractiveness of gambling, its original specialty, and aimed at diversifying the island’s economy.
Macau is renowned as the world’s most lucrative gambling destination. In 2019, monthly gaming revenues reached almost $3 billion, six times more than Las Vegas. This expansion has been accompanied by a thriving luxury goods, retail and hospitality sector. Brand profits have risen sharply, driven mainly by consumer spending from mainland China. However, the economy of this former Portuguese colony has suffered severe damage over the past three years, due to travel restrictions imposed between mainland China and the rest of the world.
Macau is, however, gradually recovering from the impact of the pandemic. In the first quarter of this year, it recorded almost 5 million arrivals, around 45% of the level reached in 2019.
As the territory gradually begins to reopen, six hotel and gaming industry players – MGM China, Galaxy Entertainment, Melco Resorts, Sands China, Wynn Macau and SJM Holdings – have pledged to invest a total of $14.9 billion in the city over a ten-year period. 90% of this sum will be allocated to non-gaming projects, in areas such as entertainment, theme parks, trade conventions and exhibition space. Clearly, Macau is keen to diversify its economy…
Favorable area
The Macau Special Administrative Region is one of the world’s leading destinations for gambling and luxury purchases. It has become a preferred testing ground for many brands and marketing experts. This is thanks to its ideal location close to other Asian centers and its unique cultural mix of Portuguese and Chinese influences.
The Grand Lisboa Palace shopping center alone boasts over 100 fashion and lifestyle brands, including Cartier, Dior and Valentino.
The latest development from SJM Resorts, the Grand Lisboa Palace draws its inspiration from European monuments of the neoclassical and Belle Époque periods. Decorated with traditional Chinese motifs, it is one of three new luxury hotel towers, the other two being the Karl Lagerfeld Hotel and the soon-to-open Palazzo Versace Macau.
Karl Lagerfeld, Versace, Marriott…
This attractiveness has seen hotel contracts multiply for several years, particularly before the global pandemic. But in January 2022, Marriott International also announced an agreement with Melco Resorts & Entertainment to introduce the W Hotels Worldwide brand to Macau. Scheduled to open in September 2023, W Macau – Studio City will enhance the island’s world-class leisure destination offering, thanks to its surprising design.
Located in the heart of Cotai, W Macau – Studio City will be the jewel in the crown of Phase 2 of Studio City, a complex featuring indoor and outdoor water parks, cinemas and state-of-the-art event and meeting facilities. The hotel will offer 557 rooms, including 127 suites, as well as wellness facilities, a spa, a fitness center and an indoor pool. What’s more, in addition to various dining options, the hotel will make available 1,100 square meters of event and meeting space.
The first Karl Lagerfeld Hotel has also opened in Macau. This luxurious five-star hotel comprises 271 rooms and is part of the huge Grand Lisboa Palace Resort Macau. This is Karl Lagerfeld’s last interior design project before his death in February 2019. The famous German designer worked closely with SJIM Resorts, a subsidiary of Sociedade de Jogos de Macau, a gambling company operating in the former Portuguese colony ceded back to China in 1999. This company developed the operation in Cotai, an area specially dedicated to gambling and tourism, located between the islands of Coloane and Taipa.
Karl Lagerfeld follows in the footsteps of other fashion brands that have ventured into the hospitality business, creating hotels, spas and restaurants. Bulgari opened a hotel in Beijing in 2017, followed by another in Shanghai the following year. More recently, the Palazzo Versace Macau opened its reservations in April, bringing with it its iconic prints and bright colors within the Grand Lisboa Palace complex.
Currently, the trend in the hotel industry is to take brand experiences to the next level, offering consumers much more than what a simple retail store or ephemeral boutique can offer. In fact, this is probably what the United Arab Emirates is aiming for. With plans to open a casino by 2026, this will undoubtedly have a considerable impact on the Emirate’s hospitality sector and economic growth. The operation will be a game-changer, boosting tourism and encouraging investors to take new initiatives.
Read also >Luxury tourism: Myhotelmatch benefits from a dynamic market
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The Chinese administrative region of Macau is signing a string of hotel contracts with major groups and luxury brands. A strategy based on the attractiveness of gambling, its original specialty, and aimed at diversifying the island’s economy.
Macau is renowned as the world’s most lucrative gambling destination. In 2019, monthly gaming revenues reached almost $3 billion, six times more than Las Vegas. This expansion has been accompanied by a thriving luxury goods, retail and hospitality sector. Brand profits have risen sharply, driven mainly by consumer spending from mainland China. However, the economy of this former Portuguese colony has suffered severe damage over the past three years, due to travel restrictions imposed between mainland China and the rest of the world.
Macau is, however, gradually recovering from the impact of the pandemic. In the first quarter of this year, it recorded almost 5 million arrivals, around 45% of the level reached in 2019.
As the territory gradually begins to reopen, six hotel and gaming industry players – MGM China, Galaxy Entertainment, Melco Resorts, Sands China, Wynn Macau and SJM Holdings – have pledged to invest a total of $14.9 billion in the city over a ten-year period. 90% of this sum will be allocated to non-gaming projects, in areas such as entertainment, theme parks, trade conventions and exhibition space. Clearly, Macau is keen to diversify its economy…
Favorable area
The Macau Special Administrative Region is one of the world’s leading destinations for gambling and luxury purchases. It has become a preferred testing ground for many brands and marketing experts. This is thanks to its ideal location close to other Asian centers and its unique cultural mix of Portuguese and Chinese influences.
The Grand Lisboa Palace shopping center alone boasts over 100 fashion and lifestyle brands, including Cartier, Dior and Valentino.
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The Chinese administrative region of Macau is signing a string of hotel contracts with major groups and luxury brands. A strategy based on the attractiveness of gambling, its original specialty, and aimed at diversifying the island’s economy.
Macau is renowned as the world’s most lucrative gambling destination. In 2019, monthly gaming revenues reached almost $3 billion, six times more than Las Vegas. This expansion has been accompanied by a thriving luxury goods, retail and hospitality sector. Brand profits have risen sharply, driven mainly by consumer spending from mainland China. However, the economy of this former Portuguese colony has suffered severe damage over the past three years, due to travel restrictions imposed between mainland China and the rest of the world.
Macau is, however, gradually recovering from the impact of the pandemic. In the first quarter of this year, it recorded almost 5 million arrivals, around 45% of the level reached in 2019.
As the territory gradually begins to reopen, six hotel and gaming industry players – MGM China, Galaxy Entertainment, Melco Resorts, Sands China, Wynn Macau and SJM Holdings – have pledged to invest a total of $14.9 billion in the city over a ten-year period. 90% of this sum will be allocated to non-gaming projects, in areas such as entertainment, theme parks, trade conventions and exhibition space. Clearly, Macau is keen to diversify its economy…
Favorable area
The Macau Special Administrative Region is one of the world’s leading destinations for gambling and luxury purchases. It has become a preferred testing ground for many brands and marketing experts. This is thanks to its ideal location close to other Asian centers and its unique cultural mix of Portuguese and Chinese influences.
The Grand Lisboa Palace shopping center alone boasts over 100 fashion and lifestyle brands, including Cartier, Dior and Valentino.
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