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Marina Bay Sands Embarks on $1 Billion Phase Two Transformation to Elevate Luxury Experience

Marina Bay Sands (MBS) has announced a substantial investment of an additional US$750 million (S$1 billion) for the second phase of its rejuvenation program, aiming to enhance its luxury offerings and solidify its position in the hospitality industry. The multi-year project will encompass Tower 3, the lobby, Sands SkyPark, and other key features, unfolding in stages until 2025. With net revenue soaring by 34.3% to US$1 billion for July to September 2023, MBS is well-poised for this transformative endeavor.

Key Highlights:

  1. Reinvestment Details:
    • MBS plans to invest a total of US$1.75 billion in the program, focusing on elevating the guest experience through extensive refurbishments.
  2. Earnings Growth:
    • Strong earnings marked by a 34.3% increase in net revenue to US$1 billion for the third quarter of 2023 underscored the resort’s financial robustness.
  3. Phase Two Overview:
    • The second phase involves the rejuvenation of Tower 3, the lobby, Sands SkyPark, and various other integral features, enhancing the overall appeal of Marina Bay Sands.
  4. Timeline and Completion:
    • The refurbishment project will unfold in phases, with completion expected by 2025, showcasing MBS’s commitment to delivering unparalleled luxury travel experiences.
  5. Previous Phase Success:
    • The success of the initial US$1 billion phase, initiated in 2022, involved upgrading approximately 1,280 rooms across Towers 1 and 2, with around 390 new suites.
  6. Transformational Elements:
    • Phase two will introduce new dining and retail options, along with the redesign of over 550 rooms, including 380 suites, enhancing the resort’s overall luxury offerings.
  7. Strategic Positioning:
    • The entire transformation program aligns with MBS’s strategy to position itself as a frontrunner in the luxury hospitality sector, catering to the evolving preferences of global travelers.
  8. Tourism Impact:
    • Large-scale tourism projects, such as MBS’s expansion, contribute to Singapore’s status as a tourist hub, with a positive impact on Mice activities and increased leisure visitor numbers.
  9. Economic Significance:
    • The Building and Construction Authority’s projection of $14 billion to $17 billion in construction contracts for 2024, including IR expansions, underscores the economic significance of such developments.
  10. Future Developments:
    • MBS and Resorts World Sentosa (RWS) continue their commitment to non-gaming attractions, injecting a combined $9 billion into expansions as part of an agreement with the Government.

As Marina Bay Sands embarks on the second phase of its transformative journey, visitors can anticipate a heightened level of luxury, ushering in a new era for this iconic integrated resort.

The Straits Times

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