{"id":277191,"date":"2023-06-13T09:24:12","date_gmt":"2023-06-13T14:24:12","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=277191"},"modified":"2023-06-13T11:12:28","modified_gmt":"2023-06-13T16:12:28","slug":"treasure-island-macau-opening-with-galeries-lafayette","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/","title":{"rendered":"Treasure Island Macau Opening with Shopping Mall, Galeries Lafayette"},"content":{"rendered":"

The Treasure Island Resorts World Hotel and Shopping Centre in Macau is set to hold a soft opening this summer, with a full grand opening expected in October. The Chinese casino enclave’s newest resort complex is opening amid ongoing depressed hotel occupancy rates across the city.<\/p>\n

\"Treasure
Treasure Island Resorts World Hotel and Shopping Centre (pictured to the right of Wynn Macau) is appealing to shoppers and nongaming visitors. The resort won’t include a casino when it welcomes its first guests this summer. (Image: ResortX Construction Board<\/a>)<\/figcaption><\/figure>\n

Treasure Island Resorts World was envisioned by Genting Hong Kong, a subsidiary of the Genting Group based in Malaysia. Genting, which isn’t one of Macau’s six licensed casino operators, had planned to open Treasure Island as a nongaming resort.<\/p>\n

\n

But Genting Hong Kong in 2021 decided to sell off its 75% controlling stake in Treasure Island.<\/a> It’s an effort to assist the company’s struggling cruise business, which was significantly harmed by the COVID-19 pandemic. Genting Hong Kong nonetheless filed for bankruptcy last November after its cruise lines —\u00a0 Star Cruises, Crystal Cruises, Dream Cruises, and the company’s MV Werften shipyard in Germany — reached insolvency.<\/p>\n<\/div>\n

Genting Group bid on a casino license in Macau last year, but failed to secure one of the six coveted gaming concessions. As for Treasure Island, its new owner, Hong Kong-based real estate investment firm Yoho Group and its controlling stakeholder, businesswoman Ao Mio Leong, say the property is almost ready for visitors.<\/p>\n

Shopping Destination<\/b><\/h2>\n

Treasure Island Resorts World Hotel and Shopping Centre will feature more than 600 guest rooms and a massive shopping mall with more than 400,000 square feet of retail space. Along with a UFC Gym, Yoho Group announced this week that the resort destination will feature a Galeries Lafayette, a luxury department store made famous by its flagship location in Paris.<\/p>\n

\n

Galeries Lafayette has locations in Berlin, Dubai, Beijing, Doha, and Luxembourg. Along with its Macau expansion, Galeries Lafayette is in a major expansion phase, with additional stores planned for Milan, Italy, Mumbai, Delhi, and Shenzhen, China.<\/p>\n<\/div>\n

Jones Lang LaSalle (JLL) has been contracted to handle the leases at Treasure Island. The commercial real estate services firm claims more than 80% of the retail outlets have already been leased.<\/p>\n

Other notable brands coming to Macau include Under Armour, toy store Pop Mart, and Beebeeland, which constructs immersive playgrounds inside premier shopping complexes.<\/p>\n

Hotel Occupancy Remains Suppressed<\/b><\/h2>\n

Macau’s gaming revenues are inching closer to the region’s pre-pandemic levels. But the enclave’s more than 42K hotel rooms continue to be less occupied than they were in 2019. Treasure Island’s 600 five-star occupancies will only add to the competition for overnight guests, as visitor arrival statistics remain below 2019 rates.<\/p>\n

According to the Macau Government Tourism Office, Macau’s hotel rooms were occupied just 39% of the time last year. That was down 12.5% from 2021.<\/strong><\/p>\n

China’s adherence to President Xi Jinping’s “zero-COVID” policy that greatly limited travel throughout much of 2022 was to blame for Macau’s poor hotel occupancy performance. After public backlash, Xi decided to terminate “zero-COVID” in December.<\/p>\n

Visitors have since returned to Macau<\/a> in droves. The city’s hotel occupancy rate in April was 86%. In the period from January through April, the hotel rooms were occupied nearly 80% of the time.<\/p>\n

In 2019, Macau’s hotel occupancy rate for January through April was 91%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau is set to welcome another hotel property this summer with a soft opening\/ Treasure Island Resorts World Hotel and YOHO Shopping Centre is expected to fully commence operations in October. <\/p>\n","protected":false},"author":25,"featured_media":277199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,3313],"tags":[82061,86678,82841,51,84161,86677,86679],"acf":[],"yoast_head":"\nTreasure Island Macau Opening With Galeries Lafayette<\/title>\n<meta name=\"description\" content=\"The Treasure Island Resorts World Hotel in Macau is set to hold a soft opening this summer, with a full opening expected in October.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Treasure Island Macau Opening With Galeries Lafayette\" \/>\n<meta property=\"og:description\" content=\"The Treasure Island Resorts World Hotel in Macau is set to hold a soft opening this summer, with a full opening expected in October.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-13T14:24:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-13T16:12:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/Screen-Shot-2023-06-13-at-10.08.08-AM.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/\",\"url\":\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/\",\"name\":\"Treasure Island Macau Opening With Galeries Lafayette\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/Screen-Shot-2023-06-13-at-10.08.08-AM.jpg\",\"datePublished\":\"2023-06-13T14:24:12+00:00\",\"dateModified\":\"2023-06-13T16:12:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"The Treasure Island Resorts World Hotel in Macau is set to hold a soft opening this summer, with a full opening expected in October.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/treasure-island-macau-opening-with-galeries-lafayette\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/Screen-Shot-2023-06-13-at-10.08.08-AM.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/Screen-Shot-2023-06-13-at-10.08.08-AM.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Treasure Island Resorts World Hotel and Shopping Centre (pictured to the right of Wynn Macau) is appealing towards shoppers and non-gaming visitors. 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