Blog

FROM Dubai to Macau and across many parts of Asia and Europe, there have been significant investments worth billions of dollars in the luxury segment amid the ongoing battle to court the world’s big spenders.

Paul Town, the chief operating officer of Singapore’s Marina Bay Sands (MBS), said there is “a bit of a global arms race” at the moment with respect to luxury, which makes the industry “very competitive” for every player out there.

“Even though many integrated resorts (IRs) in other parts of the world might not be fully rebranding or repositioning themselves, they are certainly reinvesting and elevating,” said Town, a New Zealander who is MBS’ top executive in Singapore, in an interview with The Business Times.

On its part, MBS is also sparing no expense to ensure that it can attract its fair share of what Town describes as “high-value tourists” – guests from all over the world who desire longer stays of three to four nights or more, and who covet a unique “lifestyle and hospitality experience”.

Since 2022, MBS has committed a total of US$1.75 billion towards what has been the largest reinvestment since the IR opened 14 years ago in April 2010.

The rooms in Towers 1 and 2 of the hotel have all been refurbished, and work is ongoing for the rooms in Tower 3, the hotel lobby and the Sands SkyPark.

By the second quarter of 2025, MBS will have a total of 1,850 rooms in its inventory – this number includes 775 suites, which is more than four times the original number of 180.

“This is not a superficial change,” said Town at a separate media event on Thursday (Nov 7). “It represents our long-term commitment to excellence and reflects an unwavering dedication to being the world’s most awe-inspiring destination.”

In addition to the reinvestment amount, Las Vegas Sands – the US-based parent company of MBS – said in its last quarterly earnings report on Oct 23 that it will spend US$8 billion on its expansion project known as Marina Bay Sands IR2.

This amount is more than double the US$3.3 billion figure estimated when the project was first announced in 2019.

IR2 will feature a fourth tower, its own casino area, 570 luxury suites, a 15,000-seater entertainment area, more capacity for meetings, incentives, conferences and exhibitions (Mice), as well as high-end restaurants.

Construction will begin in June 2025 and is expected to be completed by June 2030.

The plan is for the official opening to take place in January 2031, subject to obtaining the necessary approval from the Singapore government.

Top of the line

Town spoke to BT in the Chairman Suite, the largest residence in the new Paiza Collection of rooms and suites.

This particular suite – there are only five of them – can accommodate up to 12 guests and has a private gym, a baby grand piano and a massive 146-inch television, among other opulent amenities.

The Paiza Collection comprises mostly suites and is served by a team of 160 butlers, which the COO said is the largest butler force in Singapore.

The IR even runs an in-house academy for its butlers, who have to undergo rigorous training and audit before they can be deployed.

The VIP experience for many of the guests could begin at Changi Airport, with a chauffeured ride to MBS in one of more than 40 premium vehicles.

Among the newest cars in the growing fleet are four Rolls-Royce Black Badge Cullinans, each of which costs well over S$2 million at today’s prices.

“We see our customers becoming less transactional and choosing to invest more deeply in a hospitality experience. They are looking for us to provide them with a lifestyle journey, rather than just a series of transactions of meals and entertainment and hotel stays,” said Town.

“They really view us as a lifestyle brand now, and that allows us to start building experiences around the physical products that we have.”

Courting the overseas dollar

Asked about the visitor profile, Town said that MBS’ main source markets have remained largely consistent over the years.

“(They’re) primarily the countries in South-east Asia, China, Japan and South Korea. After the pandemic, we saw Australia becoming a more significant market for us too,” he noted.

Touching on China, Town said that while the masses of Chinese tourists have not quite returned to pre-pandemic levels, many of the high-value guests from the world’s second-largest economy have returned since it reopened its borders in early 2023.

“China’s not all the way back yet, and maybe it won’t be for a little while. But certainly, we are in a better shape than where we were 18 months ago in terms of our access to the Chinese market,” he said.

“There’s Greater China as well and that includes Hong Kong, which historically has been a very important source market for us. We are seeing visitors from Hong Kong come back as well.”

Pushing boundaries

On Thursday, MBS marked the completion of the Paiza Collection – a key milestone in its reinvestment programme – with the unveiling of a new brand vision called “Above Beyond”.

The milestone was celebrated at an event held at the Sands Theatre, with Sands global ambassador and former England and Manchester United football star David Beckham in attendance.

“We are now at the next stage of development with our ambitious transformation that is pushing the boundaries of luxury hospitality. The new brand vision and property refurbishment is timely as it mirrors and complements this vision, setting the tone as we enter the next phase of growth,” said Town.

MBS’ chief marketing officer Irene Lin explained that “Above Beyond” embodies the IR’s ambition to position itself as a “game changer” in the luxury hospitality industry.

“Every single detail, down to the service culture among our more than 11,700-strong workforce, is imbued with our new brand DNA to create a sense of belonging and build a stronger emotional connection with our guests,” she said.