MACAU, 3 March 2021: Galaxy Entertainment Group has signed a contract with Accor for Raffles to stamp the brand on Galaxy Macau.
The integrated resort will sport the Raffles iconic luxury branding on its all-suite tower, Raffles at Galaxy Macau, due to open in the second half of 2021.
Raffles at Galaxy Macau will feature 450
suites in a tower on the integrated resort’s east promenade directly connected
to the Galaxy Macau lobby podium that houses the casino, entertainment and
luxury shopping.
GEG operates a collection of luxury hotels
in Macau – StarWorld Hotel, Banyan Tree Macau, Galaxy Hotel, Hotel Okura Macau,
JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, and Andaz
Full Year Net Revenue of $7.8 billion, down 79% year-on-year
Full Year Adjusted EBITDA of $(0.9) billion versus $12.6 billion in 2019
Q4 Net Revenue of $3.3 billion, down 64% year-on-year and up 430% quarter-on-quarter
Q4 Adjusted EBITDA of $0.7 billion, down 77% year-on-year and up 193% quarter-on-quarter
Played unlucky in Q4 which decreased Adjusted EBITDA by approximately $41 million, normalized Q4 Adjusted EBITDA of $0.8 billion, down 74% year-on-year and up 199% quarter-on-quarter
Hotel occupancy for Q4 across the five hotels was 49%
Full Year Net Revenue of $2.2 billion, down 80% year-on-year
Full Year Adjusted EBITDA of $(0.3) billion versus $3.5 billion in 2019
Q4 Net Revenue of $1.0 billion, down 64% year-on-year and up 380% quarter-on-quarter
Q4 Adjusted EBITDA of $0.2 billion, down 81% year-on-year and up 167% quarter-on-quarter
Most of Macau’s luxury hotels in casino resorts were, as of Thursday, still available for booking for all of the nights of the upcoming, week-long, Chinese New Year (CNY) holiday period, according to checks conducted by GGRAsia.
The average nightly rates of most of those hotel rooms were also lower than for Chinese New Year in 2020. China’s State Council has designated the upcoming holiday period as running inclusively from February 11, a Thursday – the eve of Chinese New Year – to February 17, a Wednesday.
GGRAsia’s occupancy survey drew on information collated from the official booking websites of the relevant casino-resort hotels. As of Thursday, 21 out of 22 local five-star hotels – most of them establishments at Cotai casino resorts – were still available for bookings for all of the nights of the upcoming festive period.