The Palazzo Versace Hotel at SJM Grand Lisboa Palace (GLP) opened on Saturday, becoming the first Palazzo Versace hotel in Asia. The Macau Integrated Resort has 12 floors and three hotel towers, including one with 271 suites. Each tower is unique in its own zone. The hotel features two Italian restaurants, a spa, a private gym and outdoor and indoor pools. Palazzo Versace says the hotel is designed to offer a “grand Italian feel” with details such as Versace Home fabrics and lighting, Italian terrazzo floors and mosaic tiles.
In addition to being the global fashion brand’s first hotel in Asia, the new GLP offering is also the second worldwide, having opened a hotel in Dubai in 2016.
The grand opening of the new Macau hotel took place on Saturday afternoon. , which was attended by, for example, SJM president Daisy Ho and co-presidents Angela Leung and Timoth Fok.
“The opening of Palazzo Versace makes the Grand Lisboa Palace even more successful, and we are happy that the Group has been able to achieve this result,” said Ho. “We look forward to seeing more and more guests at the hotel in the future.”
Along with the new Palazzo Versace, the property boasts of 1,350 rooms in the GLP Tower and 271 rooms at the Hotel Karl Lagerfeld. SJM Holdings reported a significant turnaround in its financials, with adjusted EBITDA of nearly HK$1.73 billion (220 million USD) in the 12 months ended last December, marking a turnaround from last year’s loss of HKD 3.1 billion ($396.1 million). Gross revenue at the Grand Palace in Lisbon was HKD 3.67 billion ($469 million USD), of which 73 percent came from gambling 346 million Hong Kong dollars ($44.2 million) in 2022.The commissioning of Grand Lisboa Palace, SJM’s new property in Portugal, has not yet met market expectations.
