Galaxy Macau Casino Opens in China

Long queues form as thousands of visitors line up to experience the “New Palace of Asia”.

In 19 May 2011,  Galaxy Macau™ officially opened its doors, welcoming over 20,000 guests within its first 90 minutes to the delight of over 3,000 VIP attendees. The only property of its kind to open in Macau this year, Galaxy Macau is anticipated to receive between 30,000 and 40,000 guests per day, each of whom will be able to experience game-changing resort features at Macau’s newest integrated destination resort. 

Dr Lui Che Woo, Founder and Chairman, Galaxy Entertainment Group (GEG, SEHK stock code: 00027), said, “Galaxy Entertainment Group is committed to the local economy by helping transform Macau into a diversified global tourism and entertainment hub. By integrating traditional Asian culture with Western management style, we have created a business model with ‘World Class, Asian Heart’ that will drive the success of our signature property, Galaxy Macau, and help realize Macau’s vast potential as a tourism destination. 

“Galaxy Macau brings together three internationally renowned hotel brands – Banyan Tree Hotels & Resorts, Okura Hotels & Resorts and Galaxy Hotel – for a world-class, truly integrated destination resort with the type of holiday features that have not previously been offered in the market. We believe this will help attract more visitors from different countries, extend their staying period in the city and create a more diversified destination choice for local, Asian and international travelers.”

Banyan Tree Macau, Hotel Okura Macau and Galaxy Hotel offer a total of 2,200 five-star rooms, suites and villas, accounting for nearly 12% of Macau’s current room total and nearly 20% of its five-star capacity. The spectacular resort features of the HK$14.9 billion property are concentrated in its Grand Resort Deck, where a 350-ton white sand beach frames the 4,000-square-meter skytop wave pool, the world’s largest of its kind. Several pools, gardens and private cabanas dot the area, making it perfect for private and corporate functions. The Grand Resort Deck also features the first Banyan Tree Spa in the Pearl River Delta, which at 3,400 square meters is also the biggest in the Banyan Tree group. 

Galaxy Macau features more than 50 international food and beverage outlets. True to its focus on providing an authentic Asian resort experience, more than half of them serve Asian cuisines, making it the widest such selection in Macau under one roof. The selection makes it possible for visitors to eat at Galaxy Macau once a week for a year and never eat at the same restaurant twice. 

Rounding out Galaxy Macau’s resort offering is extensive in-house entertainment across multiple venues, including the soon-to-open, ultra-exclusive China Rouge, a hybrid private membership club, performance theatre, bar and restaurant conceptualised by renowned Hong Kong designer Alan Chan to evoke a modern vision of 1930s Shanghai. It is anticipated that China Rouge will instantly become one of the trendiest nightspots in Macau, drawing discerning clientele from around the region. Of particular note, Galaxy Macau is proud to announce its plans for a 9-screen, 3D, multi-function cinema theatre to follow later this year. Open to the local community and Galaxy Macau guests, the theatre will be state-of-the-art and the first of its kind in Macau. The property also features retail boulevards offering a unique shopping experience of Asian as well as international brands. 

Chinese shopper flocking to Hong Kong for luxury goods

CNN posted an interesting video about the growing number of mainland Chinese shoppers flocking to Hong Kong to buy luxury goods, much to the enjoyment of Hong Kong retailers and international luxury brands alike.

Click here for the video.

Top 10 Items Purchase by Noble Chinese

1) Wuliangye(五粮液) – 38,729 votes – A high-end traditional Chinese distilled spirit, or “baijiu,” label.

2) Guojiao 1573 (国窖) – 34,872 votes – A high-end traditional Chinese distilled spirit, or “baijiu,” label.

3) Daoguang 25 (道光廿五) – 29,859 votes – A high-end traditional Chinese distilled spirit, or “baijiu,” label.
 

4) Red Flag (Hongqi, 红旗车) – 26,553 votes – China’s first luxury car brand, established in 1958.

5) NE-TIGER (东北虎皮草时装有限公司) – 22,031 votes – China’s first luxury fashion brand, established by Zhang Zhifeng in 1992. NE-TIGER opened its first Shanghai boutique in November and staged a high-profile runway show during China International Fashion Week this past fall.

6) Swellfun (水井坊) – 21,259 votes – A high-end traditional Chinese distilled spirit, or “baijiu,” label based in Sichuan. It was acquired by the London-based beverage company Diageo this past March.

7) Kasly Ju (金 士力) – 20,237 votes – A producer of health food products, tea, dietary supplements and liquor.

8) Yuxi Cigarettes (玉溪(硬境界)) – 19,582 votes – A high-end cigarette company, whose cartons sell for a whopping 2000 yuan (US$301) each.

9) Erdos (鄂尔多斯) – 18,303 votes – A luxury cashmere manufacturer from Inner Mongolia, established in 1979. Currently the world’s largest producer of cashmere.

10) Furongwang Cigarettes (Diamond Pack) (芙蓉王) – 16,965 votes – A high-end cigarette company, whose cartons sell for about 1300 yuan (US$195) each.

Source: AFPrelaxnews

China will be the world’s biggest luxury goods market by 2020

China will be the world’s biggest luxury goods market by 2020 as its economy booms and an emerging middle class spends a growing chunk of their cash on high-end items.

Over the next decade, Chinese consumers — including a surging number of billionaires — will account for 44 percent of global spending on goods such as bags, vehicles, watches, shoes and clothes, the report by brokerage CLSA said.

The nation’s luxury goods sector was worth $25 billion in 2009, or about 10% of the world market, including purchases by consumers in HK, Macau and Taiwan.

Travel spending could boost that figure as high as 15 percent of the current world market. The country was “well on track” to surpass Japan within three years.

“As incomes rise, China’s burgeoning middle class is adopting previously unattainable high-end lifestyles and is transitioning from a saving to spending culture,” said the report, entitled “Dipped in Gold: Luxury lifestyles in China and Hong Kong.”

“Chinese consumers enjoy displaying their wealth and success and are not just spending on themselves but also purchasing gifts for friends and family.”

The report was based on a survey of 340 consumers and 31 luxury store managers in cities across China, CLSA said, adding that more than half the consumers polled have made or are planning a luxury purchase.

Those who did splash out on a pricey items in the past year spent an average of 10-12 percent of their total household income on them, “demonstrating a high propensity to spend,” it said.

Luxury goods firms are moving quickly to meet this soaring demand, with Louis Vuitton‘s biggest customers already hailing from China.

The country accounts for 18 percent of sales at Gucci, 14 percent for Bulgari and 11 percent at Hermes, the report said, while Italy’s Prada has also jumped into the market.

Homegrown luxury brands are also expected to appear on the scene, but likely in areas that “China has a perceived fundamental advantage, primarily in the use of materials such as jade, porcelain or precious woods that can be used in jewellery, homeware and furniture,” the report said.

Consultancy PricewaterhouseCoopers has already predicted that China will be the world’s top buyer of luxury goods by 2015, even sooner than CLSA’s forecast

According to the Hurun Rich List, the Chinese equivalent of the Forbes or Sunday Times rich lists, there are now 875,000 Chinese people worth more than $1 million and almost 200 of these are billionaires.

Source: AFPrelaxnews

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