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Melco's Lawrence Ho: MO Hotel Rooms May Fail to Meet Demand if 50K Pax Performance Venue Built
2024-04-25 10:11:24 Macau media outlet Allin Media reported that the Macau government had earlier planned to build a temporary large-scale outdoor performance venue in Taipa by the end of the year, with a capacity of 50,000 people, in order to develop the city into a performing arts capital. Macau Secretary for Social Affairs and Culture Ao Ieong U said that the Macau government has already made some choices for the venue, which mainly revolves around the Macau East Asian Games Dome and the land around the integrated resort. The government hopes to set up the venue in Taipa, and is now trying to level the land and study the possibility of using it. The aim is to start holding concerts in 1Q25. MELCO INT'L DEV (00200.HK) Chairman and CEO Lawrence Ho saw the possibility of hosting world-class stars in the future with the completion of such a venue, but was concerned about the availability of hotel rooms in Macau. This is because there are only about 40,000 rooms in Macau, which is only about one-third of the number in Las Vegas. Most of the hotels in Macau are also already 90% full. Lawrence Ho hoped that with the introduction of the new multiple-journey travelling policy between Hengqin and Macao, more cheaper hotels would be available in Hengqin, and believed that this would be favourable to the development of Macao and Hengqin. He was not worried that the hotels in Hengqin would take away travellers from Macau, as Macau offers many five-star hotels and focuses on high-end guests. ~ AAStocks Financial News Web Site: www.aastocks.com | |