The president of Melco Crown Entertainment Limited has reportedly announced that the long-anticipated fifth hotel tower for the City of Dreams Macau property will be named “Morpheus” and will include some games.
According to a report by GGRAsia, Lawrence Ho Yau Lung, chairman and CEO of Melco Crown Entertainment Limited, said the $1 billion hotel tower will offer around 780 rooms, along with suites, double-deck villas and “sky villas,” while the high-speed elevator will transport visitors to the observation deck featuring views of the interior atrium.
“I think one floor of “Morpheus” will be a few VIP tables or premium mass tables,” Ho told GGRAsia.”Morpheus” is actually a hotel tower, and one floor of the game involves moving some of the mass tables into the area. Therefore, it is not a separate casino, and in terms of VIP business, Melco Crown [Entertainment Limited] believes that less than 5% of earnings before interest, tax, depreciation and amortization come from VIPs, so it has not always relied heavily on VIPs.
“As a company, we are focused on increasing premium mass and we always have. I think the dependence on VIP is the second lowest in Macau as a whole. I’m happy that [Macao’s VIP business] has recovered, but I think the driving force behind Macao and Melco Crown [Entertainment Limited] in the coming years will be based on Mass.”
Ho explained that the upcoming 525-foot tall hotel tower was designed by Go Zaha Hadid, who was responsible for China’s Guangzhou Opera House and the London Aquatics Centre in the UK, and is expected to begin operations sometime next year.
“Our collaboration with Zaha Hadid was an honor for us,” Ho told GGRAcia. “Unfortunately, she passed away, but this is one of her last works. So for us, in the future, it’s important to grow this hotel brand globally. Our investment in this hotel tower is $1 billion for sophisticated international travelers.”
Melco Crown Entertainment Limited, owned by Hong Kong-listed Melco International Development Limited and Australian company Crown Resorts Limited, is also responsible for Studio City Casino Macao, west of Cotai Street, where Ho reportedly said the property has seen an increase in visitor numbers since Paris Macao opened nearby on September 13.
“After Paris Macao opened, we saw more traffic,” Ho told GGRAsia. “The road was cleared and the flow of visitors was improved.”
Despite the fact that hotel rooms in all categories in Macau rose 20.7% year-on-year in 2016 to about 36,200, Ho also reportedly said he was not concerned that luxury accommodation could be oversupplied to his former Portuguese residence.