Melco Resorts Marks Grand Opening of REM Hotel at City of Dreams Macau

Melco Resorts & Entertainment Ltd held the grand opening of its 149-room REM hotel at City of Dreams Macau. The ceremony on Tuesday followed an invitation-only launch in August. The property occupies the former Countdown tower, which closed for renovation in 2021.

Melco Resorts invested circa US$125 million to convert the former 330-room tower into accommodation focused on high-end suites. The event was attended by chairman and chief executive Lawrence Ho Yau Lung, group president Evan Winkler, and City of Dreams Macau president Tim Kelly, according to GGRAsia.

Event and Property Details

Ho linked the project to shifting expectations among luxury travellers who seek privacy and personalised experiences. “Every one of our major counter-cyclical investments has been built on absolute confidence in Macau’s transformation and in a new generation of luxury travellers,” he stated, referring also to City of Dreams Macau, the venue’s resident show House of Dancing Water, and the Morpheus hotel. Ho added that Melco Resorts would continue “reinventing” its integrated resorts.

REM began welcoming guests through a private invitation-only programme in August. The name refers to rapid eye movement, a stage of sleep associated with dreaming. Accommodation consists predominantly of suites spread across seven categories.

The largest is The Lair, a 1,200-square-metre penthouse on the 30th floor with an indoor-outdoor swimming pool, infrared sauna, DJ booth, and bar. Other categories include The Haven, Hypnotic Suite, Euphoria Suite, Luminous Suite, Twilight Suite, and Premier Room. Most room types offer in-room check-in with a dedicated butler. The hotel also contains an outdoor swimming pool, fitness centre, and Reverie Café.

Growth Catalyst and Rating Action

Texas Capital Securities identified the fuller opening of REM as a potential catalyst for revenue growth at City of Dreams Macau. The brokerage nonetheless downgraded Melco Resorts to a “hold” rating from “buy”. It cited weaker visibility on the outlook for Macau gross gaming revenue, heightened competition for premium-mass players, and concerns over near-term earnings performance.

The opening forms part of Melco Resorts’ investment in upgrading its Macau offering.

Reporting: GGRAsia

Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.