The hotel will be the third super luxe property at a resort already featuring the Grand Lisboa Palace and the Karl Lagerfeld.
Business
MGM China is about to exceed pre-pandemic gaming revenues for this quarter, analysts say, while Wynn Macau is gaining significant market share.
Only 2 in every 100 visitors to Macao are international arrivals – a percentage that the hospitality sector hopes to boost.
With the city’s tourism sector picking up, measures are being implemented to combat excessive prices for hotel rooms being quoted on online booking platforms.
Travellers are now able to apply for all kinds of visas and previous visa-free travel arrangements will resume, Beijing says.
The local economy is tipped to reach stable levels by May, according to the latest forecast by the Macau Economic Association.
A report by JP Morgan says the casinos’ ability to run tighter operations is going to significantly boost profits in the coming years.
The latest snapshot from the Statistics and Census Service shows activity reviving in the sector in the last months of the pandemic.
Following the completion of Barra station, trains are now doing trial runs on the section of the LRT that will connect Taipa to the Macao peninsula.