LVS eyes to unveil revamped MBS Tower III rooms by Chinese New Year 2025
Las Vegas Sands has invested US$750m to revamp Marina Bay Sands’ Tower III, lobby and rooftop Sands SkyPark.
Singapore.- Las Vegas Sands (LVS) has disclosed plans to invest an additional US$750m in remodelling Marina Bay Sands (MBS) Tower III. Last week, Deutsche Bank revealed that the company was planning to increase the budget for the renovation of the complex by about US$4bn.
The company expects to make the revamped rooms available to the public by Chinese New Year 2025. The revamp also covers the hotel lobby and the Sands SkyPark rooftop. Tower III is projected to have 550 rooms, including 380 suites.
The work is separate from the commitment to invest at least SG$4.5bn (US$3.3bn) for the overall expansion of the Marina Bay Sands property, including the development of a fourth hotel tower. Upon completion of the renovation, Marina Bay Sands’ three hotel towers will have 1,850 renovated rooms, including 770 suites.
MBS generated net revenue of US$1.06bn in the fourth quarter of the year 2023. The figure was up 55.6 per cent in year-on-year terms and up from US$1.5bn in the previous quarter. Full year 2023 net revenue was up 53 per cent at US$3.85bn. According to Las Vegas Sands, MBS accounted for 36.4 per cent of the company’s net revenue and 45.4 per cent of its adjusted property EBITDA.
