21-03-2014, 09:40 AM
It is amazing the cash generation capability of MBS, not only from Casino, but other facilities...
Billionaire Adelson seeks land to expand Marina Bay Sands
SINGAPORE — Las Vegas Sands has asked the Singapore authorities for more land to increase rooms at its Marina Bay Sands resort by about 60 per cent after facing almost full occupancy, billionaire Chairman Sheldon Adelson said yesterday.
The world’s biggest casino operator plans to add 1,500 rooms to the 2,563-room resort, Mr Adelson said at a briefing here. It will also add meeting rooms, ballrooms and exhibition spaces to the US$6 billion (S$7.65 billion) project and largest hotel in Singapore when the Government releases more land, he said.
“We need more rooms,” Mr Adelson said. “We are running at a 100 per cent occupancy; on a bad day, it’s 98 per cent. No other hotel in the world runs like this, except some in Vegas.”
Mr Adelson said he had met government officials on Wednesday and repeated his request for more land. Marina Bay Sands has about 1.2 million sq ft of meeting and convention space and two theatres for Broadway shows, concerts and gala events, said a company filing.
The room revenue at the resort rose 11 per cent to US$360.3 million last year, the filing showed.
Last year’s occupancy rate was 98.6 per cent, with an average daily room rate of US$396.
Hotels in the city filled 86.3 per cent of their rooms last year, data from the Singapore Tourism Board showed.
...
http://www.todayonline.com/singapore/bil...-bay-sands
Billionaire Adelson seeks land to expand Marina Bay Sands
SINGAPORE — Las Vegas Sands has asked the Singapore authorities for more land to increase rooms at its Marina Bay Sands resort by about 60 per cent after facing almost full occupancy, billionaire Chairman Sheldon Adelson said yesterday.
The world’s biggest casino operator plans to add 1,500 rooms to the 2,563-room resort, Mr Adelson said at a briefing here. It will also add meeting rooms, ballrooms and exhibition spaces to the US$6 billion (S$7.65 billion) project and largest hotel in Singapore when the Government releases more land, he said.
“We need more rooms,” Mr Adelson said. “We are running at a 100 per cent occupancy; on a bad day, it’s 98 per cent. No other hotel in the world runs like this, except some in Vegas.”
Mr Adelson said he had met government officials on Wednesday and repeated his request for more land. Marina Bay Sands has about 1.2 million sq ft of meeting and convention space and two theatres for Broadway shows, concerts and gala events, said a company filing.
The room revenue at the resort rose 11 per cent to US$360.3 million last year, the filing showed.
Last year’s occupancy rate was 98.6 per cent, with an average daily room rate of US$396.
Hotels in the city filled 86.3 per cent of their rooms last year, data from the Singapore Tourism Board showed.
...
http://www.todayonline.com/singapore/bil...-bay-sands