Malaysia Hotel News: Resorts World Singapore Opens Early 2010!

Thursday, July 23, 2009

Resorts World Singapore Opens Early 2010!

Resorts World at Sentosa today announced that it will top out its first hotel, Maxims Tower, by the end of February 2009. The structural completion of the 11-storey hotel marks yet another major milestone in the development of the Resort, which remains on track for a soft opening in the first quarter of 2010.

Maxims Tower will open with three other hotels - Hotel Michael, Festive Hotel and Hard Rock Hotel - as well as the casino, Le Vie Theatre, a 7,300-seat Grand Ballroom, and Universal Studios Singapore. Installation of ride equipment for the many attractions at Universal Studios Singapore has also begun, with testing and commissioning of the attractions scheduled to begin in October 2009.

In the course of the past year, changes have been made to the design and architecture of the integrated resort to substantially improve its entertainment and fun offerings, including enhancements to its casino and Universal Studios Singapore. Improvements were made to the quality of interiors as well as foot traffic accessibility to retail and dining outlets.

Executive Vice President of projects at Resorts World at Sentosa, Mr Michael Chin said: “The Resort site has been totally transformed over a span of just 22 months since we broke ground in April 2007. Visitors to Sentosa today can see the well-advanced super structures of our hotels and Universal Studios Singapore attractions. We are committed to deliver a top-class destination to Singapore and at the same time, create jobs for Singaporeans.’’

Resorts World at Sentosa is expected to increase its investment in the Resort to S$6.59 billion from S$6 billion. The additional investment will be funded by operating cash flows from the Resort when it opens next year. Financing for the Resort is in place with the successful syndication of a S$4 billion credit facility in April 2008. As at 31 December 2008, Resorts World at Sentosa Pte Ltd. has awarded more than S$4.5 billion of the S$6.59 billion project costs. At the time of opening, its capital expenditure is projected to be less than S$6 billion.

Resorts World at Sentosa continues to be confident that the Resort will be an iconic family holiday destination in the region and that, in these tough economic times when visitors are less likely to travel long-haul, it will be a highly attractive holiday destination for visitors within the region.

Resorts World Singapore