Marina Bay Sands is investing $750 million in the next phase of hotel construction

By TravelWiseFeb 13, 2024 08:45 AMNews
Share:
Marina Bay Sands is investing $750 million in the next phase of hotel construction
The Marina Bay Sands (MBS) resort will renovate its hotels in stages until 2025. Source: Erwin Soo, Wikipedia

Marina Bay Sands (MBS) resort will renovate its hotels in stages until 2025, investing $750 million for this purpose.

MBS chief operating officer Paul Towne stated that over the past two years, the integrated resort has made significant progress in delivering new world-class luxury tourism services, as reported by The Star. "This second phase of reinvestment will be critical as it will take the property to new heights and put us in a strong position to capitalize on future growth opportunities," he added.

MBS mentioned that this second phase will include new dining and retail outlets, as well as more than 550 renovated rooms, including 380 suites.

The hotel's transformation, first announced for 2022, is part of a multi-year program aimed at strengthening the integrated resort's positioning as a leader in the luxury hospitality industry, according to MBS.

As part of the first phase of the US$1 billion project, MBS has renovated approximately 1,280 rooms in Towers 1 and 2, including 390 new suites.

Upon completion, the hotel will have 1,850 renovated rooms in the three towers, including about 770 suites. The ultra-luxury suites, the largest of which measures 6,458 square feet, are located on the highest floors, from 50 to 54 in Towers 1 and 2, and are reserved for the hotel's highest level of guests. According to MBS, they include a private VIP arrival and dedicated elevators, butler service, and exclusive access to the Paiza Sky Club.

Jesper Palmqvist, senior director for Asia Pacific at hotel research company STR, noted that the luxury segment has been the fastest recovering hotel class following the Covid-19 pandemic and remains strong today.

"Although geopolitics remains one of the biggest factors of instability affecting global travel, along with the overall economic slowdown, travel demand remains strong overall," he added.

"And while higher hotel room rates across all hotel classes in Singapore are sometimes cited as a deterrent and risk for travelers to look for other options, it is important to remember that higher prices are a global trend. Singapore is not alone in this," Palmqvist said.

Selena Ling, chief economist and head of global market research and strategy at OCBC, noted that large tourism projects are helping to develop Singapore as a tourism hub.

According to her, since 2023, the number of meetings, incentive events, conferences, and exhibitions has increased.

For example, Marina Bay Sands' (MBS) net income for July-September 2023 increased by 34.3% to USD 1 billion from USD 756 million a year earlier. During the same period, room revenue at the MBS hotel, which is owned by Las Vegas Sands, increased by 35.9% year-on-year from USD 92 million to USD 125 million.

Top Articles
Not Just a Suitcase: My Personal Checklist for Smart Travelers in 2025

Not Just a Suitcase: My Personal Checklist for Smart Travelers in 2025

Mar 3, 2025 18:00 PM
Practical Eco-Friendly Travel Solutions for Sustainable Tourism

Practical Eco-Friendly Travel Solutions for Sustainable Tourism

Feb 14, 2025 15:00 PM

Top Tips for Securing Your Luggage and Preventing Loss

Feb 7, 2025 14:00 PM

Your Guide to Hand Luggage and Baggage Rules

Feb 4, 2025 20:00 PM
More News
Seating area inside Dublin Airport lounge overlooking runway with international aircraft in view

Dublin Airport Broadens Global Reach for Summer 2025

Mar 29, 2025 13:43 PM
A passenger taps their card at a train station ticket barrier using contactless payment

Ticket Office Cuts Raise Travel Concerns

Mar 29, 2025 11:27 AM

Brussels Airlines Unveils Refined Inflight Dining

Mar 29, 2025 09:36 AM

Southern Italy Rail Upgrades to Disrupt Travel

Mar 29, 2025 07:41 AM
flydubai aircraft on runway with mountain backdrop

flydubai Restores Pisa Flights Ahead of Summer

Mar 29, 2025 05:29 AM
Man participating in a public protest or demonstration, facing another person in conversation

Easter Travel at Risk Amid Heathrow PRM Staff Strike

Mar 29, 2025 03:34 AM
Silhouettes of travellers waiting at an airport terminal during sunset

Edinburgh Airport Unveils Passenger-Focused Upgrades for Summer

Mar 28, 2025 23:42 PM
A quiet British railway station with footbridge and empty platforms on a cloudy day

Historic Rail Celebrations Unlock New Travel Routes Across the UK

Mar 28, 2025 20:38 PM
Tail fins of Iberia aircraft parked at Madrid-Barajas Airport on a clear day

Airline Alliance Expands Travel Options Between Spain and Argentina

Mar 28, 2025 18:24 PM

Benidorm Reinvents Itself as Eco-Friendly Holiday Destination

Mar 28, 2025 16:43 PM

Air France Adds Hotel-Style Bedding to Business Class for Long-Haul Flights

Mar 28, 2025 14:37 PM
Passengers at London King’s Cross station beside LNER and other trains under a large arched roof

LNER Opens Advance Ticket Sales for Summer 2025 Travel Across the UK

Mar 28, 2025 12:26 PM
Jet2holidays airplane flying low over a coastal road near a populated area with parked vehicles and scenic green hills

Jet2 Adds Norway Fjord Trips from Newcastle and Leeds Bradford

Mar 28, 2025 10:50 AM
Dark storm clouds forming in the sky before heavy rainfall

Polar Vortex Raises Storm Risk for UK Travelers

Mar 28, 2025 02:41 AM
easyJet aircraft parked at airport gate on a sunny day

easyJet Expands Inflight Services for Summer Travellers

Mar 28, 2025 00:39 AM

Delays Expected on Northern Italy Rail Routes

Mar 27, 2025 22:45 PM

Jet2 Opening New Travel Horizons With Expanded Winter 2025/26 Routes from Newcastle

Mar 27, 2025 20:28 PM
People walking along a historic street in central Torino at sunset

Torino Opens to Travelers as 2025 European Capital of Smart Tourism

Mar 27, 2025 18:33 PM
Ryanair plane landing at sunset at Manchester Airport

Manchester Expands African Flight Options

Mar 27, 2025 16:46 PM
Young woman using smartphone at a European train station

Interrail Booking Becomes Effortless with New Digital System

Mar 27, 2025 14:29 PM
Emirates A380 aircraft taxiing at Sydney Airport during sunset

Emirates Marks 25 Years with Enhanced Sydney Travel

Mar 27, 2025 12:31 PM
A First Class train operated by Transport for Wales approaching a station through a residential area

Michelin-Level Dining on Welsh Rails

Mar 27, 2025 10:44 AM

Travel Disruptions Expected as Helsinki Airport Protest Approaches

Mar 27, 2025 08:27 AM

Heavy Fog Disrupts Transport in Southern England

Mar 27, 2025 06:32 AM
Airplane with Star Alliance livery parked at gate at the airport

Star Alliance and ÖBB Partner to Boost Train-Flight Integration

Mar 26, 2025 23:37 PM
Dark railway tunnel with visible train tracks leading to a lit station exit

Weekend Rail Works to Disrupt Derbyshire Routes

Mar 26, 2025 21:41 PM