Melco CEO Wants Multi-Trip Visa Between Hengqin and Macau
In 2023, the operator of prominent Macau-based properties like Altira, City of Dreams, Studio City, and Morpheus, Melco Resorts & Entertainment, launched the Studio City phase, thus expanding one of its most lucrative venues counting 900 luxury rooms.
Following the ongoing development of the company as well as the industry as a whole in the area, chairman and chief executive officer and chairman Lawrence Ho envisions a multi-trip visa that would connect Hengqin and Macau and potentially bring benefits to the market in the long run.
What Would the Elimination of One-Trip Visas Bring
The company, which also manages casino hotels in Cyprus and Manila, used the voice of its CEO to talk about the changes that would occur provided the authorities would give the green light to a plan that would allow multiple trips between the two geographical regions.
At the moment, mainland visitors can only make one trip to Macau on a visa.
Nonetheless, according to reports from IAG, the Macau SAR Government wishes to implement multiple trips between Hengqin and the Macau control point.
In April, the Economic Development Bureau of Guangdong-Macao In-Depth Cooperation Zone in Hengqin also spoke about a project aimed at designing multiple journeys between the two areas.
During an interview with local press representatives after an event that took place this week, Ho explained that the multiple-entry visa scheme would help Macau grow.
Low on Accommodation Options
Ho explained the only issue Macau would face would be that of having a sufficient number of hotel rooms to host all new visitors, especially in the context of the current hotel rooms at 90% capacity most of the time.
He further added that Macau only has one-third of the number of hotel rooms in Las Vegas.
Additionally, he explained, hotel rooms in Hengqin are cheaper compared to the rates in Macau.
This would mean that, provided mainland travelers would be allowed to make multiple round trips to Macau via Hengqin, “it will be better for the development of Macau and Hengqin in the long run.”
When asked if the multiple entries decision would have an impact on Macau’s hotel occupancy rates, the CEO argued the two locations would complement one another.
He also added that many hotels in Macau are five-star venues, whereas three-star or four-star hotels are predominant in Hengqin.
At the end of February, the operator of prominent Macau-based properties like Altira, City of Dreams, Studio City, and Morpheus, Melco Resorts & Entertainment, bagged a prestigious spot in the Top 10 best stocks trading under $10.
Last April, Melco opened new areas exclusively dedicated to foreigners in two Macau properties, at Melco’s City of Dreams property and in Studio City.
