IAG June 2015 - page 9

increased traffic inCotai resorts’ retail areas andhearingof people
waiting at border crossings up to five hours on holidays for a
chance to visit. “Mass is definitely coming. Give them a place to
stay and they’ll stay.”
Mr Maher, also a Brean managing director, isn’t troubled by
new supply despite recent declines in hotel occupancy. “Buildings
are all full Thursday to Sunday. Now many people do go home
Thursday to Sunday,” he says. Room prices shouldn’t be an
issue. “When I seeminimum bets of HK$300 (US$39), HK$500,
HK$800, are they really not going to pay $150 for a room?” Mr
Maher contends.
“Everyone comes to Venetian because it’s new, unique,
sticky,” he says. But they also visit the Sands China flagship
resort because of its location. “When I pick stocks, I look at
who has what where.” Referring to Sands China Chairman and
CEO Sheldon Adelson, whose company owns Venetian Macao,
Sands Cotai Central, Four Seasons and is developing Parisian
and St Regis adjacent to them, MrMaher says, “Sheldon is dead
center on theCotai Strip.He gets anA.MelcoCrown [withCity of
Dreams andStudioCity due toopen later this year] getsA-minus.
Other propertiesmaybe a B.
“No matter who opens what, visitors are all going to walk
throughSheldon’s properties. They’ll benefit themost.”
AaronFischer says. “There’shuge
investment, $40billion capex [capital
expenditures], $20billion ina short time.
ThePhilippines isbecomingmore credible
buthasmaybe$8billion capex.”
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