THE M3: CoD APARTMENT HOTEL; MICE; TAM KEEPS 30% TARGET; LIGHT RAILWAY

The Macau Metro Monitor, September 17th 2010

 

APARTMENT HOTEL ROOMS CAN'T BE SOLD: GOV'T Macau Daily Times

Despite a recent change in the land agreement, CoD cannot sell the rooms individually in its apartment hotel, said the Land, Public Works and Transport Bureau (DSSOPT).  The Secretary for Transport and Public Works issued a land revision allowing the property to increase the construction areas of its five-star hotel and a four-star apartment hotel by 42 percent and 32 percent respectively.

 

According to the DSSOPT,  the land concessionaire adjusted the investment strategy in response to the local market’s development, and therefore increased the area of part of its five-star hotels.  The decision to change the five-start apartment hotel to four-star  was to make the development project meet the demand of different types of customers, added DSSOPT.  In addition, DSSOPT reiterated that the land parcel could not be transferred to another party without the approval of the Government.

 

MICE BUSINESS PICKING UP AT VENETIAN MACAO macaubusiness.com

Total MICE group hotel bookings grew by 42% YoY in the first half of 2010, “with no sign of slowing down this year and into 2011,” says Sands China.  A total of 33 trade shows have been confirmed for 2010, up 22% since 2008.  The company says it is seeing a particularly strong growth in emerging markets with group business from India up 63% from 2009 and China up 72%.

 

GAMING REVENUE GROWTH IN MACAU TO SLOW DOWN UNTIL THE END OF 2010: GOVERNMENT macaubusiness.com

Secretary Tam continues to expect GGR growth of 30% for 2010.  Mr. Tam said he believed the growth of the gaming revenue in the fourth quarter of 2010 would be slower since the comparison basis is higher.

 

US $1B LIGHT RAILWAY UP AND RUNNING IN MACAU BY 2014 SCMP

According to Michael Lam Soi-hoi, a transport infrastructure consultant with the city's government, Macau will spend US$1 BN to build a light railway by 2014 and continue expansion thereafter.  The US$1 billion would be spent on Phase I of the plan, which comprised two light rail lines and would start operation in 2014, Lam said.


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