Melco Sets October Grand Opening for REM Hotel at City of Dreams Macau While Deferring Dividends to 2027
TL;DR — Melco has soft-opened REM at City of Dreams Macau and scheduled a grand opening after October’s Golden Week. The refresh converts 330 rooms to 150 suites for premium mass players while retail works extend into 2027. Dividend resumption is delayed until 2027 to prioritize debt paydown and buybacks.
SCCG Take — Melco’s capital choices highlight persistent post-COVID leverage pressures in a high-cost Macau market. Operators balancing upgrades against returns will watch whether debt reduction sustains competitive positioning through 2027.
Melco Resorts & Entertainment has soft-opened its revamped REM hotel at City of Dreams Macau. The company plans a grand opening shortly after October’s Golden Week as part of an ongoing refresh at the flagship integrated resort. Lawrence Ho, Chairman and CEO, said the firm was “easing into” full operations at the former Countdown Hotel.
REM Conversion Targets Premium Mass Segment
The project converts 330 standard rooms into 150 high-end suites. This shift directly addresses demand from Macau’s premium mass gaming customers. “We have soft-opened REM already and so far the reception has been great,” said Ho. “It’s a very unique product and a lot of fun. I think it’s luxury but highly differentiated from anything that’s in the market or even at City of Dreams.”
Melco has also opened new gaming areas. 18 tables near the southwest entrance became operational in late July. Another 15 tables near the Grand Hyatt entrance, opened in October 2025, have proven successful. A broader retail reimaging will create “pain over the next few months” and extend into summer 2027. Ho expects the final product to deliver a seamless loop across the property and position City of Dreams as the nicest in Macau.
Debt Repayment Delays Dividend Restart
Melco will not resume dividends until 2027. Geoff Davis, Executive Vice President and Chief Financial Officer, said the timeline moved from the end of this year so the company can focus on debt reduction and share repurchases at discounted prices. “The intention is to commence dividends when it can be substantive and meaningful. We’re not interested in a nominal dividend.”
Ho cited the lingering COVID-era debt load and the need to improve Macau performance. The firm opened a Sri Lanka property one year ago and continues to address that market. Competition in Macau remains elevated, producing a demanding cost environment. According to Inside Asian Gaming, Melco is aligning resources with the highest return opportunities while protecting the guest experience.
Reporting: Inside Asian Gaming
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Melco is betting on yield over scale at City of Dreams while balance-sheet repair takes priority over shareholder cash.
We track capital allocation across Asia-Pacific for operators and investors navigating post-COVID recovery. Melco's suite conversion and dividend delay signal that Macau's premium mass upside still demands heavy infrastructure spend against stubborn leverage — a trade-off every concessionaire is pricing differently right now.
- 330 rooms → 150 suites at REM, targeting premium mass at City of Dreams Macau
- Grand opening slated after October Golden Week; retail refresh runs into 2027
- No dividends until 2027; Melco prioritizes debt paydown and buybacks over cash returns
SCCG angle: Our Asia-Pacific network advises on property refresh ROI and investor messaging when capital is tight. If you're weighing suite conversion economics or communicating debt-versus-dividend strategy to stakeholders, we connect you to CFOs, architects, and capital-markets partners who have walked this exact line in Macau and beyond.
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