Give the Chinese a crack at capitalism and all heck breaks loose - that's my main take-away after seven days here in Asia. The consumer potential of this country is awesome. That's why Marriott is so bullish about our growth plans here.
China's economy is growing at the rate of 10 percent a year. If you think that's impressive, wait 'til you get a load of Macau. It's growing at more than 20 percent a year.
This tiny, little island is about one-sixth the size of Washington, D.C. and only an hour-long ferry ride from Hong Kong. About 100 million people are within a three hour car ride and 3 billion people are within a five hour flight.
No surprise that last year, Macau overtook Las Vegas in gambling revenue.
You should see the monstrous casinos at the brand new Venetian. It's the second largest building in the world after the Boeing plant in the state of Washington. They have an entertainment center under construction that will accommodate 15,000 people for major events like rock concerts and NBA exhibition games.
The lowest bet at the high roller tables is $3000. There are no slot machines - well there are just a few - some baccarat, a lot of roulette, blackjack and "sic bo," which means high-low in Chinese.
And talk about speed to market: the Venetian was a $2.4 billion project but only took 24 months to build.
Here they say that even the hardhats turn to gold. Macau is like Las Vegas in the 70's when there were only casinos. It has the same potential to grow from a no-frills gambling resort to a business and family destination.
That's why Marriott is building two hotels on the Cotai strip in Macau right next to the Venetian: a 256-room Ritz Carlton and 968-room Marriott, which will open in about two years.
All I can say about Macau . . . is WOW!!!
I'm Bill Marriott blogging to you from the airport in Hong Kong and Marriott is definitely on the Move.
As time goes by, Macao has gone so far. In fact this place is now consider to be a Las Vegas Style, as we all know Las Vegas is one of the well-known place wherein many tourists always go in this place.
Posted by: online casino bonus | 06/12/2010 at 02:15 AM
Would the hotel in Macau China stop to build?
Posted by: winluk | 04/19/2010 at 10:18 AM
I lived in HK for a year. Now it's time to open Mhotel in Hong Kong! Even though I worked for IHG,I love Marriott. :)
Posted by: Stef | 12/05/2007 at 05:05 AM
Thanks for the insight! Will the Marriott start with the gambling business as well?
Posted by: txa | 11/04/2007 at 06:55 AM
Mr Marriott I full agree with you Macau becomes a big casino 24/7.. great pictures. Ciao from Italia... Luis
Posted by: Luis | 10/17/2007 at 06:28 AM
Wow! The pictures there are beautiful! Maybe one day in the next couple of years (once the Marriott's are built) I can go there.
Posted by: Jennifer | 10/13/2007 at 10:37 AM
Is it legal to smoke in China?
Posted by: john wurrows | 10/08/2007 at 11:05 AM
It all sounds great. But how does this play out with Wynns recent opening and losses which devalued share price? Wynn and others say they are not attracting new gamblers just moving the existing ones from one location to the other. Curious, Gary
Posted by: Gary Kielman | 10/06/2007 at 08:50 PM
Great blog post! My wife and I will add Macau to our list of places to stay with your wonderful company. China is going to be an amazing market for Marriot and my wife and I can't wait to get there.
Posted by: Fred Paynter | 10/05/2007 at 02:57 PM
Hi Bill,
I'll be speaking in Beijing and Shanghai this month about CEO blogging - to mark the publication in Mandarin Chinese of my book, The Corporate Blogging Book. I'm going mention your blog. Would you do a quick Q & A with me by email (about CEO blogging) that I could post to my blog? Click on my name to see the Q & A I've just done with Richard Edelman. Look forward to hearing from you.
Posted by: Debbie Weil | 10/04/2007 at 05:21 AM
Wow Mr. Marriott. Im really glad that you had a great time. I am very excited for you. Thanks for the great pictures of China and gee golly I wish that I could have visited the country with you. Maybe Next time.
Love
Michael
Posted by: Michael Mathews | 10/03/2007 at 10:42 PM
Thank you so much for the updates on Marriott and especially your blog. We were very excited to see that you were in China this past week as we are leaving in a few days for our 3rd worldwide trip to China using our Marriott Vacation Club week and Marriott points for 4 weeks. It looks like we picked a great destination - Beijing, Shanghai ,Suzhou, & Hong Kong. After reading your blog we will definitely take the boat ride to Macau. Please continue to keep us posted on all upcoming properties. We have enjoyed many family vacations staying at some of the most beautiful places all around the world. Thank you for everything!
Posted by: Lorraine & Ray | 10/02/2007 at 10:12 PM
Hi Bill, couldn't agree more with you. Wow is the word for Macau, even more so in coming years when Cotai strip is completed. The best things about Macau, apart from the casino: it has an alluring Portuguese charm from the small lanes, delicious food to its iconic architecture; then it is only an hour of jet-foil convenience from Hong Kong or to mainland China. Now that mega-luxury casino hotels are being built, it is no doubt that Macau will be the next 'it' destination. I also stayed at the Wynn and the 6-star Crown Macau which were beyond amazing, could not wait for the arrival of the Ritz Carlton and Marriott hotels very soon.
Posted by: Yohanes Budiyanto | 10/02/2007 at 05:02 PM
I do believe that they are witnessing a miraculous economic expansion. To contribute to their hospitality sector will be a vital catalyst to their evolving and growing economy. I would love to seize an opportune moment in time and travel to visit some of those vibrant casinos and especially that astonishing entertainment center. Imagining myself dancing at a concert with that multitude of human beings around me is an experience that is very worth while undergoing. All the pictures that you posted in China are very fine and nice. I greatly valued the photos with you and the Marriott staff. What great and powerful moral boost this must have given them, to take a picture with their hotel Patron and who is one of the legendary global businessmen in our modern history. This was like opening your new hotel and personally welcoming all your new staff that joined the Marriott whole heartedly and that moved me tremendously. Taking the time to post them on your website was very thoughtful and caring of you. As a hotel employee that has been around chains a bit and has been in the field for eight years, I know that such decent spirit is very rare and seldom found these days. I am very sure this meant a lot to your employees and that they will cherish these photos and moments.
Posted by: Feras Werr | 10/02/2007 at 10:48 AM
You are absolutely right about China as a consumer nation. I spent three weeks in Shanghai in 1998 and felt American companies were missing the boat, viewing China as a source only rather than a market. European goods were flying off the shelves and American products were nowhere to be found, though American brands were well known. Marriott should do well with the top end properties. Despite the recent negative publicity re the toy industry, the Chinese people know and want quality.
Posted by: Bill Keyes | 10/02/2007 at 08:21 AM
Thanks for the pictures - it's great to see 'real' shots taken from your trips. I really enjoy the blog - so thanks for taking the time to do it.
Posted by: M Hanton | 10/02/2007 at 01:07 AM
Macao is truly the new Las Vegas style epicenter and global gaming destination. The Venetian is only the beginning here, and as you hinted in your post, the expansion of the glitz and glamor of Las Vegas style hotels will no doubt continue. Marriott should feel a great deal of pride to be a part of this development!
Posted by: William | 10/01/2007 at 10:10 PM