Galaxy Entertainment Group is planning to spread an estimated 3,000 new hotel rooms across eight new hotel brands as part of its Phase 3 and Phase 4 developments at Galaxy Macau, the company revealed Thursday.
Speaking to media via a virtual press conference following release of GEG’s 4Q20 and FY20 financial results, Vice Chairman Francis Lui confirmed the target of 3,000 rooms would primarily be targeted at the premium segment via high-end family rooms and villas.
And while a timeline for completion of all new developments remains hard to pinpoint given the ongoing COVID-19 pandemic, Lui did reveal GEG has “eight more new hotels we need to plan,” alongside the Galaxy International Convention Center, an amphitheatre, new shopping and casino space, and multiple restaurants.
“Regarding the 3,000 hotel room target we have set, we have found that the visitors to Macau we are looking for are the high-end, mass market customer,” he said.
“So we hope most of the 3,000 rooms will be able to satisfy families who come to Macau for leisure and that the quality of our rooms is what they are looking for.
“We are planning for Phase 3 to gradually come on stream in the second half of this year. For Phase 4 the works are already commenced and we hope over the next three or four years we will be able to open Phase 4, but it’s difficult to be definitive.”
While GEG’s construction timelines remain hard to predict, Lui said his own recent observations suggest Macau’s recovery trajectory was headed in the right direction.
“Over the last six months I have been working in Macau and I have visited many cities in [mainland China], met with many people and all of them said they hope they are able to come and visit Macau,” he explained.
“It’s the same since I have returned to Hong Kong, I have met with many people and they have all said the same thing – that as long as the pandemic is contained they would really like to travel and when they travel they think Macau is their first choice.
“As long as we are all willing to work together and take the vaccines, I’m sure the market will recover.”
There was little insight provided on GEG’s overseas expansion plans, including those in Japan, although Lui noted that timelines might be impacted as a result of the pandemic.
“We are still talking to the relevant authorities in Japan … we will continue to participate and help Japan use IRs to develop its tourism business,” he said.