An honorable member of the Coffee Shop Has Just Posted the Following:
Las Vegas Sands Corp. (LVS) has asked Singapore authorities for more land to increase rooms at its resort in the city-state by about 60 percent after facing almost full occupancy, billionaire Chairman Sheldon Adelson says.
The world’s biggest casino operator plans to add 1,500 rooms to the 2,563-room Marina Bay Sands, Adelson said at a briefing in Singapore today. The company will also add meeting rooms, ballrooms and exhibition spaces to the $6 billion casino resort and largest hotel in Singapore, when the government releases more land, he said.
“We need more rooms,” Adelson said. “We are running at a 100 percent occupancy; on a bad day it’s 98 percent, no other hotel in the world runs like this except some in Vegas.”
Do U guys think his request is justified? Are the benefits gonna outweigh the costs given that land is extremely scarce in Singapore and the hospitality industry is known for employing more foreigners than locals, not forgetting the social ills that casino has brought to Singapore. Although not explicitly mentioned, I feel that the expansion has got something to do with the casino part of their business where many gamblers probably took some kind of deal in which they are given free stays at the hotel for gambling big money. This probably explains their high occupancy rate despite their out of this world pricing
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29-03-2014, 02:10 AM
MBS asking government for more land to expand their capacity.
