GGRAsia – MBS US$1bln hotel revamp phased over 2022 and 2023

MBS US$1bln hotel revamp phased over 2022 and 2023

Feb 09, 2022 Newsdesk Latest News, Singapore, Top of the deck

The management of the Marina Bay Sands casino resort (pictured) in Singapore has said that the US$1-billion upgrade of its existing hotel space would be completed in phases over 2022 and 2023.

A Tuesday press release said there would be “extensive upgrading” of all rooms and suites in Towers 1 and 2 of the hotel.

The work was announced during the fourth-quarter earnings call of the resort’s parent, Las Vegas Sands Corp, on January 26.

The hotel renovation project is separate from the 2019 pledge Las Vegas Sands made to the Singapore government, to spend SGD4.5 billion (US$3.3 billion) on expansion of Marina Bay Sands. The expansion is to feature an entertainment arena, a new hotel tower and additional space for meetings, incentives, conventions and exhibitions. The pledge coincided with an extension until 2030 of the group’s Singapore casino rights.

Presentation materials released on January 26, mentioned a completion date for the actual expansion work as 2026. The group’s third-quarter earnings presentation deck had mentioned such work would in likelihood finish in 2025.

Regarding the revamp of existing hotel rooms, Paul Town, Marina Bay Sands’ chief operating officer, was quoted in Tuesday’s release as saying the firm would be “excited to unveil them to guests from around the world in the months ahead as international travel returns following the easing of border restrictions”.

The sale of bus and flight tickets for the land and air “vaccinated travel lane” (VTL) initiative between Malaysia and Singapore was reopened on January 21, but with a 50 percent reduction in the number that had been allowed to travel previously.

Both countries suspended the ticket sales on December 23, due to concerns about the Omicron variant of Covid-19.

Mr Town was cited saying in the Tuesday release: “Singapore has been a leader in working towards the safe return of global travel through its vaccinated travel lanes, and we are grateful to the government for its calibrated approach and unwavering support for the industry.”

The announcement said there would also be changes on the 55th floor of all three hotel towers. They would include a revamp to the executive club lounge, high-end dining space, and health facilities.

Marina Bay Sands also stated that a new restaurant called Wakuda, created by chef Tetsuya Wakuda and restaurateur John Kunkel of the United States-based 50 Eggs Hospitality Group, would be added at the resort.

Robert Goldstein, chairman and chief executive of Las Vegas Sands, was cited in Tuesday’s press release as saying of the revamp of existing facilities and beyond: “Our reinvestment as well as our planned multibillion-dollar expansion that we announced in 2019 represent a further demonstration of our long-term support for Singapore.”