Melco Resorts & Entertainment has already soft-opened its revamped hotel REM at City of Dreams Macau and will hold a Grand Opening early next quarter, the company has revealed.
Providing an update on progress of an expansive refreshment program currently underway at its flagship Macau integrated resort, Melco’s Chairman and CEO Lawrence Ho said the company was “easing into” full operations at the former Countdown Hotel, with a soft opening recently undertaken and full opening scheduled for shortly after October’s Golden Week.
As reported by Inside Asian Gaming, the rebrand will see the hotel’s 330 standard hotel rooms converted into 150 high-end suites – a direct play for Macau’s premium mass gaming customer.
“We have soft-opened REM already and so far the reception has been great,” said Ho,
“Macau has some of the nicest hotels in the world and there is already an oversaturation in the luxury market but I think REM is unlike anything in Macau, in Asia and probably the world.
“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. I think that complements our 5-star hotel offering very well, so we’re quite excited about REM.”
While completion of the REM revamp is on the horizon, Ho warned that a major reimaging of the property’s retail offering would see Melco “suffer through some pain over the next few months” and into the summer of 2027.
“But once it’s all completed … I think that it will probably position City of Dreams as the nicest property in all of Macau.
“The redesign area will create a seamless loop across the property, introducing a more carefully curated mix of luxury offerings with differentiated elements. The completion of this retail revamp will allow us to deliver the full integrated resort experience at City of Dreams that will be uniquely Melco.”
Already completed, Ho added, is a new gaming area near the southwest entrance of City of Dreams which opened in late July with 18 gaming tables. Another area with 15 tables near the Grand Hyatt entrance opened in October 2025 and is “a proven success.”
However, Melco confirmed that it would not resume the payment of dividends until next year, with the company instead focused on paying down debt and share repurchasing as a means of enhancing shareholder value.
“We have pushed [the resumption of dividends] from towards the end of this year to sometime in 2027,” explained Melco’s Executive Vice President and Chief Financial Officer, Geoff Davis. “We have redirected and as we’ve always said, when there are opportunities to buy our shares at what we think are highly discounted prices, we’ll take advantage of that.
“We think in 2027 we will be in a position to recommence dividends without providing any specific target on that. The intention is to commence dividends when it can be substantive and meaningful. We’re not interested in a nominal dividend.”
Added Ho, “I know it’s been a few years since COVID but we’re still kind of digging out of the COVID hole that elevated our debt, so I think the priority is still on debt repayment and really improving the performance in Macau.
“We also opened Sri Lanka a year ago and we are still learning the market there and really trying to crack the code on the Indian market. So, there’s still a lot of work to do, a lot of stuff on our plates right now. But we’re always very open-minded in watching the market and what other people are doing very closely.
“Competition in Macau remains elevated, resulting in a demanding cost environment. We’re focused on being disciplined as we align our resources with the highest return opportunities and protect the guest experience.”
