The Covid-19 pandemic has already gone on for more than two years and although people are already getting used to the new norm and daily routines are somewhat back to normal, but the hospitality industry is still suffering from the lack of tourism.
For local integrated resort (IR) Marina Bay Sands (MBS), it is determined to not just wait around for things to get better. MBS is embarking on a major reinvestment programme for its existing property, spanning hotel rooms and suites, new food and beverage (F&B) offerings and other enhancements that will position the IR for strong growth as the recovery of global tourism continues.
It will be reinvesting some US$1 billion ($1.34 billion) into the IR, the biggest since its opening in 2010. This demonstrates parent company Las Vegas Sands’ confidence in Singapore and ongoing commitment to the country’s tourism industry.
The reinvestment is in addition to the multi-billion-dollar expansion announced in April 2019, which will include the development of a state-of-the-art entertainment arena, an ultra-luxury hotel tower and additional MICE (meetings, incentives, conventions & exhibitions) space, adjacent to the current IR.
The reinvestment encompasses extensive upgrading to its hotel room suites, of which renovation words will be completed in phases over 2022 and 2023. It will also introduce “signature experiences” across the 55th floor of all three hotel towers.
The US$1 billion reinvestment for Marina Bay Sands is part of Las Vegas Sands’ ongoing programme to elevate design and the customer experience across its properties in Singapore and Macao. In Macao, this includes investment of approximately US$2.2 billion in The Londoner Macao, Grand Suites at Four Seasons Macao and The Londoner Court.
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“We are firmly of the view that Asia will continue to lead as a primary driver of growth in travel, and Singapore will remain a top destination of choice. Our reinvestment as well as our planned multi-billion-dollar expansion that we announced in 2019 represent a further demonstration of our long-term support for Singapore. It reaffirms our confidence in the future and our commitment to offering industry-leading luxury products and hospitality experiences to our guests,” said Robert G. Goldstein, Las Vegas Sands’ Chairman and CEO.
