Melco launches new brand to replace Crown Towers Hotel

Gaming firm Melco Resorts & Entertainment Limited is launching NÜWA, its new luxury hotel brand which will debut in its Macau and Manila integrated resorts on January 16, 2018.

In a statement Melco said NÜWA will replace the current Crown Towers Hotels in its flagship properties, City of Dreams. Melco is a developer, owner and operator of casino gaming and entertainment casino resort facilities.

“Inspired by the eponymous heroine from Chinese mythology, NÜWA represents classic Asian refinement. The new brand further exemplifies Melco’s core mission to continue providing a better guest experience,” the firm said.

It added that this the first step in the preparation of the launch of phase III of City of Dreams Macau in the second quarter of 2018.

“We are excited to introduce NÜWA. The new hotel brand embodies the very essence of Melco’s pursuit to provide our guests the very best in sophistication, quality and innovation,” said Melco Chairman Lawrence Ho.

Melco Resorts and Entertainment (Philippines) Corporation, the operator of City of Dreams Manila, reported a 129 percent surge in net profit to R469.6 million in the first nine months of 2017 to R469.6 million from the net loss of R1.6 billion in the same period last year.

In a disclosure to the Philippine Stock Exchange, the firm said this is primarily due to improved operating revenues generated during the period, higher net foreign exchange gains and higher interest income.

However, these gains were partially offset by the associated increase in operating costs, employee benefit expenses, payments to the Philippine Parties, as well as interest expenses during the period.

Total net operating revenues gained almost 50 percent to R24.21 billion for the nine months ended September 30, 2017 from R16.3 billion in the same period last year, driven by improved casino revenues.