How Important Are Singapore Operations For Las Vegas Sands?

+6.92%
Upside
51.70
Market
55.28
Trefis
LVS: Las Vegas Sands logo
LVS
Las Vegas Sands

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Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com

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2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively.

3) RevPAR refers to Revenue Per Available Room. Available Rooms comprise those room in a hotel that are available for guest occupancy, and not subject to renovation or temporary (for example, seasonal) closure. The revenue a room can generate is a function of the nightly or hourly rates it commands.

4) Singapore expected revenue growth is slower than the revenue growth for overall LVS, as we expect the company to see higher revenue growth in Macau led by its new property – The Parisian – which is expected to open in second half of 2016.

5) Expected RevPAR growth is slower as compared to the historical growth, as the Singapore property already commands very high occupancy levels (> 96% historically) and there is limited room for growth, in our view.

References:

1) Chart of the Day: See the rapid slide of Singapore’s working-age population growth, Singapore Business Review, May 13, 2016

2) Travel Demand for Asia Pacific to grow by 4.6% each year until 2020, Pacific Asia Travel Association, Apr 21, 2016

For precise figures, please refer to our complete analysis for Las Vegas Sands

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