The Macau Metro Monitor, September 23, 2011
CAESARS PLANS HOTEL IN HAINAN, CHINA Associated Press
Caesars Global Life, the non-casino division owned by Caesars, plans to build a $470MM, 1,000 room non-gambling luxury resort--Caesars Palace Longmu Bay--on the southern Chinese island of Hainan. Caesars Palace Longmu Bay is designed by Australia-based PTW Architects. It is a partnership between Caesars and with Guoxin Longmu Bay Investment Holding Co. Ltd., a subsidiary of the Chinese investment and development company Jiangsu Guoxin Investment Group Limited.
The resort is scheduled to open in 2014 with two entertainment venues offering high-profile shows, a 36-hole championship golf course, a marina, spa, shopping and restaurants. CEO Gary Loveman said his goal is to develop 25 hotels and resorts in China over the next five years. There are other hotels on the island, but Loveman said he saw demand for a number of competing brands. MGM plans to open a resort dubbed MGM Grand Sanya on Hainan Island later this year.
MACAU VISITOR ARRIVALS FOR AUGUST 2011 DSEC
Visitor arrivals for August 2011 marked a new record of 2,698,003, up 14.4% YoY. Visitors from Mainland China surged by 24.3% YoY to 1,571,015 (58.2% of total), mostly coming from Guangdong Province (820,743), Fujian Province (92,976) and Zhejiang Province (61,218); while those traveling to Macau under the Individual Visit Scheme totaled 698,625, up by 18.4% YoY. Visitors from Taiwan (116,152); the Republic of Korea (45,132) and Japan (38,853) increased by 0.3%, 25.1% and 4.4% respectively. However, those from Hong Kong (754,636) decreased slightly by 0.5%.
STEEPER RISE IN CPI FOR AUGUST Channel News Asia
S'pore CPI rose 5.7% YoY in August, an acceleration from July's growth of 5.4%. Compared with July's, August CPI was 0.7% higher. The Monetary Authority of Singapore core inflation measure (which excludes the costs of accommodation and private road transport) was up 0.4% in August MoM and 2.2% YoY.
CHUI SAI ON HOPES INFLATION WILL STABILIZE Macau Business
Macau CEO Chui said his government would continue to adopt measures to control the inflation rate in Macau. “It is close to October. We hope the inflation will become stable or drop,” Chui added. Macau government has been trying to open new sources of food supply in the Mainland to stabilize prices, while also subsidizing public utilities.