Although the market is quiet, the Group’s investment in new projects has not stopped
Given the situation of COVID-19 the gambling and tourism industry had to bear the brunt. Sands China President Wang Yingwei said that although the market is quiet, the Group ’s investment in new projects has not stopped, and the new Londoner Macao project is being renovated, with a total investment of 2 billion EUR this year and next.
The group's goal is that people will continue to travel to Macau in the long run. To this end, preparations are made to receive guests with the best appearance.
Wang Yingwei said that the epidemic has an impact on all industries, especially tourism. In terms of the group's flow of people and performance, it has almost stopped since February. Although the casino is open and many shops are also operating, the basic business volume is very low, and the number of passengers at the lowest tide is less than 10% of the normal day.
The government recently issued consumption cards to residents, which stimulated their desire to consume, but about 20% of the usual visitor volume in the past.
The new Londoner Macao project is undergoing renovation. After all, the hotel occupancy rate is currently low and the impact of the project on hotel guests is therefore minimised. The hotel's rooms, more than 590, will be completed in the second quarter; the London Gardens, with more than 390 suite service hotels, will also be completed by the end of the year.
As for the Four Seasons Hotel, the Four Seasons Club has basically been completed. There are more than 290 serviced apartments. This is a special product of the hotel. Each suite has an area of 2,000-4,700 square feet.
In recent months, gambling revenue has fallen sharply year-on-year, and Wang Yingwei used the analogy of long-distance running. He believes that this is a long-distance race, Macau has been developing, and the group is a member of the competition, so everyone must contribute to this long-distance race very responsibly.
The Group's next step is to maintain the brand of Macau. When tourists revisit Macau in the near future, they should be able to tell them that Macau is ready and has made all the preparations for the health and saftey of passengers. Now no matter what position my colleagues are working towards this is the goal.
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