Singapore's Marina Bay Sands Casino Resort to Add Another Hotel Tower
LISTEN TO THIS ARTICLE:Marina Bay Sands (MBS) has received approval from Singapore's Urban Redevelopment Authority (URA) for the development of its fourth hotel tower, marking a significant step forward in its expansion plans. The URA data, released at the end of the December 2023 quarter, confirms that the Las Vegas Sands (LVS) property can proceed with constructing the new tower on an empty plot adjacent to its existing three towers.
A Cornerstone to Singapore Tourism
The expansion project will feature a hotel with 587 rooms spanning 153,100 square meters and an additional 12,185 square meters allocated for retail space. Initially announced in 2019, MBS had planned to add around 1,000 new hotel rooms with the fourth tower.
Related: Las Vegas Sands May Need Record Loan for Marina Bay Sands ExpansionHowever, recent upgrades to the existing towers focused on the introduction of new suite products, with Towers 1 and 2 undergoing renovations that increased the number of suites from 137 to 422. Patrick Dumont, the President and COO of LVS, expressed optimism during the 4Q23 earnings call, indicating a hope to finalize the expansion project details with the Singapore government by the end of 3Q24.
Dumont highlighted the ongoing discussions with the government over several months, acknowledging the complexity of the project's national significance. The aim is to secure all necessary approvals and ensure comfort with the plans. He emphasized progress, with visits to Singapore and the expectation of receiving green lights in the next quarter or two, paving the way for the project's commencement.
MBS envisions its expansion to include a "rooftop attraction" featuring a sky pool and signature restaurant. It will also include MICE facilities (meeting rooms, function rooms, and exhibition halls) and a state-of-the-art live entertainment arena with a seating capacity of at least 15,000 people.
Drawing More Tourism to Singapore
In another move to enhance tourism, MBS has also joined forces with the Singapore Tourism Board (STB) and United Overseas Bank (UOB). This collaboration aims to broaden the appeal of the Marina Bay precinct for local residents, as well as domestic and foreign tourism. Over 50 experiences that include hotels, entertainment, shopping and dining will be developed by key regional stakeholders.
The partnership builds on existing marketing efforts, including the STB's Made in Singapore branding initiative, MBS's Bay Precinct Strategy and UOB's strategy to provide exclusive access to the attractive events across the region. The collaborative effort, named "Masterpieces. Made in Singapore," will highlight unique experiences in Singapore and target key tourist markets such as Indonesia, Japan, Korea, Malaysia, Thailand and Vietnam.
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