SJM Resorts has officially unveiled the Palazzo Versace hotel at its Grand Lisboa Palace complex, marking Versace’s debut in the Asian luxury hotel scene.
Spanning one of the resort’s towers, the hotel offers 271 rooms and suites radiating an Italian Palazzo ambiance, complete with bespoke linens, Versace Home textiles, and Italian terrazzo flooring.
During the inauguration ceremony, Daisy Ho, Managing Director of SJM Resorts, expressed satisfaction, stating that the opening fully realized the group’s vision for its inaugural Cotai integrated resort, the Grand Lisboa Palace.
Palazzo Versace Macau boasts two Italian dining venues: Don Alfonso 1890 and La Scala del Palazzo. Additionally, guests can enjoy a wellness retreat, personal training studio, and both indoor and outdoor swimming pools.
Ho highlighted the uniqueness of Grand Lisboa Palace as the sole destination in Macau hosting couture-focused designer hotels, thereby positioning the city as a global hub for ultra-luxurious branded hospitality experiences.
The property’s opening ceremony featured a surprise music performance by renowned artist John Legend, with notable attendees including Donatella Versace, Chief Creative Officer of Versace, and celebrities such as Austin Lin, Chang Huasen, Shin Hae Sun, and Blue Pongtiwat Tangwancharoen, along with K-pop star Ok Taec-yeon.
Aside from the new Palazzo Versace, the property also offers 1,350 rooms at GLP tower, and 271 rooms at the Karl Lagerfeld Hotel.
SJM Holdings reported a significant turnaround in its financials, with nearly HKD1.73 billion ($220 million) in adjusted EBITDA for the 12 months ending December last year, marking a reversal from the HKD3.1 billion ($396.1 million) loss reported the previous year.
Grand Lisboa Palace contributed HKD3.67 billion ($469 million) in gross revenue, with 73 percent attributed to gaming activity, a notable increase from HKD346 million ($44.2 million) in 2022.
However, analysts previously pointed out that the ramp-up of SJM’s new property Grand Lisboa Palace was still ‘lagging market expectations’.
