{"id":777011012,"date":"2023-11-10T08:47:18","date_gmt":"2023-11-10T11:47:18","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011012"},"modified":"2026-04-22T16:18:03","modified_gmt":"2026-04-22T19:18:03","slug":"andaz-macau-to-fully-open-by-february-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/andaz-macau-to-fully-open-by-february-analysts-say","title":{"rendered":"Andaz Macau to fully open by February, analysts say"},"content":{"rendered":"\n

Andaz Macau is to open all 700 rooms by Chinese New Year 2024, according to a note from CBRE Securities.<\/p>\n\n\n\n\n\n\n\n

Macau.- According to CBRE Securities<\/strong>, Andaz Macau, the second of the two new hotels in Phase 3 of the Galaxy Macau casino resort, is expected to open all of its 700 rooms by Chinese New Year in 2024.\u00a0<\/p>\n\n\n\n

The hotel is owned by Galaxy Entertainment Group Ltd<\/strong> and\u00a0was launched on September 15<\/a>. It is directly connected to the Galaxy International Convention Center (GICC) and the 16,000-seat Galaxy Arena, which were both launched earlier this year.<\/p>\n\n\n\n

CBRE analysts John DeCree<\/strong> and Max Marsh <\/strong>wrote that the company should begin to see return on investment accelerate from recently-opened projects, including GICC, Galaxy Arena, Raffles at Galaxy Macau, and Andaz Macau.\u00a0The Raffles at Galaxy Macau Hotel Tower<\/a>\u00a0had a soft opening to the public in mid-August.<\/p>\n\n\n\n

Galaxy\u2019s mass-market gross gaming revenue in the fourth quarter to date is at 110 to 120 per cent of 2019 levels, according to the CBRE analysts.\u00a0CBRE forecast that Galaxy Entertainment\u2019s net revenue would reach HKD10.76bn in the fourth quarter, with adjusted EBITDA of nearly HKD3.37bn.<\/p>\n\n\n\n

Galaxy Entertainment has recently shared\u00a0its financial results for the third quarter of the year<\/a>\u00a0and posted net revenue of HK$9.7bn (US$1.24bn). The figure was up by 11.4 per cent sequentially and 374.4 per cent from the prior-year period. The company also posted adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HK$$2.8bn (US$354.2m).<\/p>\n","protected":false},"excerpt":{"rendered":"

Andaz Macau is to open all 700 rooms by Chinese New Year 2024, according to a note from CBRE Securities.<\/p>\n","protected":false},"author":176,"featured_media":25493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Galaxy Entertainment Group's Andaz Macau is set to fully open its 700 rooms by Chinese New Year 2024, as noted by CBRE Securities. This expansion, alongside other new facilities, is expected to accelerate the return on investment for the company. The report also highlights Galaxy's robust financial performance, with Q4 mass-market GGR exceeding 2019 levels and strong Q3 net revenue and adjusted EBITDA figures.","focusai_entities":"Andaz Macau, CBRE Securities, Galaxy Macau, Galaxy International Convention Center (GICC), Galaxy Arena, Raffles at Galaxy Macau, Galaxy Entertainment Group Ltd, John DeCree, Max Marsh","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7)","focusai_suggestions":[{"label":"Macau Market Impact?","query":"How will the full operationalization of Andaz Macau and Raffles at Galaxy Macau impact Galaxy Entertainment's market share and competitive positioning within the broader Macau integrated resort landscape, particularly concerning mass-market GGR growth?"},{"label":"ROI Acceleration Drivers?","query":"Beyond the immediate GGR recovery, what specific operational efficiencies or new revenue streams are expected to accelerate the return on investment from Galaxy Entertainment's recently launched projects, including GICC and Galaxy Arena?"}],"footnotes":""},"categories":[157,16338],"tags":[23959,23907],"class_list":["post-777011012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-galaxy-entertainment-group","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011012"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011012\/revisions"}],"predecessor-version":[{"id":777040982,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011012\/revisions\/777040982"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25493"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}