Millennium Hotels and Resorts and Regal Hotels Group enter metaverse
Singaporean billionaire Kwek Leng Beng's Millennium Hotels and Resorts and Hong-Kong-based Lo Family's real estate giant Regal Hotels Group have entered the Metaverse world by purchasing virtual properties in metaverse Decentraland and The Sandbox.
Singaporean real estate giant joins Decentraland
On Wednesday, the Signpore-based hospitality brand Millenium Hotels and Resorts announced the launch of a hotel called M Social Decentraland in Decentraland metaverse. The virtual hotel aims to become "a place for all to gather and discover the virtual reality universe" in the metaverse space.The company has decided to open the doors of the new virtual hotel in early May. Visitors will be able to interact with an avatar who will tour them through the building and win "real-world hotel surprises."
City Developments' executive chairman Kwek stated:
"As we look towards the future, we need to look past the traditional model of hospitality and engage our guests through new immersive experiences."Millennium Hotels has stated that it is looking forward to the opportunities for collaboration in the metaverse platform. According to the company, it will also link its virtual hotel with real-world occasions such as New Year's Eve and Valentine's Day.
Lo Family's solid entry in Metaverse
On the other hand, Regal Hotels Group, which is chaired by Lo Family's Lo Yuk Sui, has also entered the metaverse space by announcing the development of a "green metropolis" in The Sandbox. The virtual city, named MetaGreen, aims to "promote eco-friendly choices and foster a sustainable community to support a circular economy."A convention center will be built in the metropolis for conferences on environmental, social, and governance (ESG) issues. It will also have a shopping mall in partnership with Hang Seng Bank and other retail brands, an eco-farm, an art gallery, and a Hong Kong university-associated academy to promote sustainability.
Recently, as we reported, Hong Kong-based Mass Transit Railway or MTR Corporation has also joined hands with The Sandbox to become the first international transport operator in the virtual world.
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