Marina Bays Sands has embarked on a major US$1 billion reinvestment program for its existing property with the goal of positioning the integrated resort (IR) for strong growth as the recovery of global tourism continues.
The reinvestment demonstrates parent company Las Vegas Sands’ confidence in Singapore and its ongoing commitment to the country’s tourism industry. It is the biggest reinvestment in the property since it opened in 2010, and is in addition to the multi-billion dollar expansion announced in April 2019, which will see the development of a state-of-the-art entertainment arena, an ultra-luxury hotel tower and additional MICE space, adjacent to the current IR. Currently, the IR has 2,561 guestrooms and suites, 1.2 million square feet of meeting space, and 1.4 million square feet of gaming and retail space.
The new reinvestment encompasses upgrading of all rooms and suites in Towers 1 and 2 of the hotel, which has become an architectural landmark in Singapore. The renovation will be completed in phases over 2022 and 2023. It will also see the IR introducing signature experiences across the 55th floor of all three hotel towers – including a revamped Executive Club Lounge, premium fine dining, and health and wellness offerings – to offer new luxury lifestyle amenities for high-value travelers.
In addition, new food and beverage experiences and retail concepts will be added. In the immediate future, Wakuda, created by Chef Tetsuya Wakuda and restaurateur John Kunkel of the 50 Eggs Hospitality Group, will join the property’s lineup of celebrity chef and signature restaurants.
“We are firmly of the view that Asia will continue to lead as a primary driver of growth in travel, and Singapore will remain a top destination of choice. Our reinvestment as well as our planned multi-billion-dollar expansion that we announced in 2019 represent a further demonstration of our long-term support for Singapore. It reaffirms our confidence in the future and our commitment to offering industry-leading luxury products and hospitality experiences to our guests,” says Robert G. Goldstein, chairman and CEO, Las Vegas Sands.
The US$1 billion reinvestment for Marina Bay Sands is part of Las Vegas Sands’ ongoing program to elevate design and the customer experience across its properties in Singapore and Macao. In Macao, this includes an investment of approximately US$2.2 billion in The Londoner Macao, Grand Suites at Four Seasons Macao and The Londoner Court.
Paul Town, Marina Bay Sands’ COO, reports that the hotel’s new room and suite offerings will bring luxury lifestyle experiences not seen in the market before. “We are excited to unveil them to guests from around the world in the months ahead as international travel returns following the easing of border restrictions,” he says. “Singapore has been a leader in working towards the safe return of global travel through its Vaccinated Travel Lanes, and we are grateful to the Government for its calibrated approach and unwavering support for the industry.”
The reinvestment comes as the IR enters its second decade of operations following its 10th anniversary in 2020. Since opening in 2010 at a development cost of US$5.6 billion, the property has provided significant benefits to Singapore’s tourism sector. It has hosted more than 380 million visitors and helped to attract more than 1,000 all-new MICE events to the country. It also directly employs nearly 10,000 team members, of which more than two thirds are Singaporeans and Permanent Residents.