SJM Holdings to renovate Grand Lisboa
SJM plans to invest MOP2.5bn to add more non-gaming activities to its flagship hotels.
Macau.- Daisy Ho Chiu Fung, co-chairman and executive director at SJM Holdings, has announced plans to invest an aggregate of MOP14.03bn in Macau for the next ten years. Approximately MOP12bn will be invested in non-gaming capital investment and events, and MOP2.03bn in gaming for capital investment.
SJM will invest MOP2.5bn to renovate its two flagship hotels, the Grand Lisboa Hotel and the adjacent Grand Lisboa Casino Hotel, to add more non-gaming activities. According to Ho, the renovation of the Grand Lisboa will be completed in 2024 and put into operation a year later. The renovation of the Grand Lisboa Hotel will be completed in 2027 at the earliest.
The company said it will also bring in experts to renovate its defunct floating casino, the Macau Palace, which will be located at Pier 14 in the inner harbour. It will no longer be a casino, but will be turned into a dining and retail venue and a museum of gaming culture.
Ho said that Grand Lisboa will expand its MICE facilities with a new garden-themed venue suitable for small to medium-sized events. She said community tourism is also a focus of SJM’s 10-year plan.
Through a “Macau Historic Centre Revitalisation Plan”, the company aims to revitalise Avenida de Almeida Ribeiro, the city’s main downtown thoroughfare. It aims to create a “thriving cultural district with a strong sense of local community” to attract international tourists and benefit local small and medium enterprises.
