Andaz Macau will become the first Andaz hotel joining an award-winning integrated resort

MACAU, CHINA – Media OutReach – 5 November 2019 – Andaz Macau, a vibrant luxury lifestyle hotel
rooted in local art and culture, will be joining Galaxy Entertainment Group
(GEG)’s ever-expanding Galaxy Integrated Resorts precinct in Macau.

Andaz Macau is scheduled to open in first half of
2021 alongside Asia’s Most Iconic & Advanced MICE Destination Galaxy
International Convention Center (GICC) and spectacular events venue Galaxy
Arena.

 (Back row,
left to right) Mr. Andreas Stalder, Senior Vice President, Food & Beverage
Operations and Product Development, Asia Pacific of Hyatt Hotels & Resorts;
Mr. Scott Kreeger, Director, Operations Development, New Resort of Galaxy
Entertainment Group; Mr. Mark S. Hoplamazian, President and Chief Executive
Officer of Hyatt Hotels Corporation; Mr. Francis Lui, Vice Chairman of Galaxy
Entertainment Group; Mr. David Udell, Group President, Asia Pacific of Hyatt
Hotels Corporation; Mr. Brian Lum, Vice President, Design Services, Asia
Pacific of Hyatt Hotels & Resorts; and Mr. Raymond Kwok, Senior Director,
Legal of Galaxy Entertainment Group witnessed the signing of the contract by
(front row, left to right) Mr. Stephen Ho, President, Greater China, Global
Operations of Hyatt Hotels & Resorts and Mr. Troy Hickox, Head of Hotels
& Lifestyle Development of Galaxy Entertainment Group.

Andaz Macau is scheduled to open in the first half
of 2021 alongside what is set to be Asia’s most iconic and advanced MICE destination,
Galaxy International Convention Center (GICC) and a spectacular
events venue, 16,000-seat Galaxy Arena. Andaz Macau will feature a
dedicated check-in lounge catering to large MICE group, over 700 rooms and
suites, an Andaz lounge, a bar and restaurant, state-of-the-art fitness center
and an indoor pool.

Andaz Macau will be
connected to the multiple award-winning integrated resort Galaxy Macau™,
offering 1.1 million m² of unique entertainment, shopping with over 200
world renowned luxury brands and leisure attractions. The hotel will also
provide guests with easy access to discover and embrace the integrated resort’s
120 dining options, some of which have garnered prestigious accolades such as
Michelin Stars, and Broadway Food Street at Broadway Macau^TM which
is just a link bridge away from Galaxy Macau.

The addition of the
Andaz brand will solidify Galaxy Integrated Resorts precinct‘s
position as Macau’s leading integrated resorts offering the largest collection
of luxury hotels — including The Ritz-Carlton Macau, Banyan Tree Macau, JW
Marriott Hotel Macau, Hotel Okura Macau, Galaxy Hotel™ and Broadway Hotel.

“Today’s luxury traveler is increasingly seeking out unique experiences
and the opportunity to become truly immersed in a destination’s culture. We are
delighted to meet this need with the addition of Andaz Macau to our Galaxy Integrated
Resorts precinct,” said Mr. Francis Lui, Vice-Chairman of GEG. “Macau has many
stories to tell and is rich in history and culture. With Andaz Macau, we will
work closely with Hyatt to create experiences that truly showcase what is
special about this destination, while further contributing to the strength of
Macau’s tourism and MICE industries.”

“We are honored to launch the Andaz brand in
Macau in our first collaboration with GEG as part of the group’s ever-expanding
integrated resorts precinct in the city,” said Mr. David Udell, Group President,
Asia-Pacific, Hyatt Hotels Corporation. “Global in scale while local in
perspective, the Andaz brand is on track to double its footprint in Asia
Pacific by end of 2020 with a strong pipeline across Greater China in
destinations such as Macau and Taipei, as well as Sanya, Shenzhen and Xiamen.”

Andaz,
meaning ‘personal style’ in Hindi, encapsulates the brand’s passion to connect
with its guests and to experience the world through their eyes, and also speaks
to the uniqueness of the brand’s properties. 
From New York, London to Shanghai, and most recently to Seoul, Andaz
hotels and resorts stimulate the senses through distinctively local
experiences, and by allowing guests to truly engage with a destination and
experience it authentically, rather than merely visit.

Andaz Macau will bring
the distinctive Andaz style to Macau, immersing business and leisure guests in
a stimulating environment inspired by the city’s colorful heritage that is a
blend of Chinese and Portuguese cultures. This will include the vibrant
interior design, local tastes and aromas with a twist and experiences that will
satiate the curiosity of inquisitive guests.

About Galaxy Entertainment Group (HKEx stock code: 27)

Galaxy Entertainment Group (“GEG” or the “Group”)
is one of the world’s leading resorts, hospitality and gaming companies. It
primarily develops and operates a large portfolio of integrated resort, retail,
dining, hotel and gaming facilities in Macau. The Group is listed on the Hong
Kong Stock Exchange and is a constituent stock of the Hang Seng Index.

GEG is one of the three original concessionaires in
Macau with a successful track record of delivering innovative, spectacular and
award-winning properties, products and services, underpinned by a “World Class,
Asian Heart” service philosophy, that has enabled it to consistently outperform
the market in Macau.

GEG operates three flagship destinations in Macau:
on Cotai, Galaxy Macau™, one of the world’s largest integrated destination
resorts, and the adjoining Broadway Macau™, a unique landmark entertainment and
food street destination; and on the Peninsula, StarWorld Macau, an award
winning premium property.

The Group has the largest undeveloped landbank of
any concessionaire in Macau. When The Next Chapter of its Cotai development is
completed, GEG’s resorts footprint on Cotai will double to more than 2 million
square meters, making the resorts, entertainment and MICE precinct one of the
largest and most diverse integrated destinations in the world. GEG is also
planning to develop a world class, lifestyle leisure resort on a 2.7 square
kilometer land parcel on Hengqin adjacent to Macau. This resort will complement
GEG’s offerings in Macau, and at the same time differentiate it from its peers
while supporting Macau in its vision of becoming a World Centre of Tourism and
Leisure.

In July 2015, GEG made a strategic investment in
Société Anonyme des Bains de Mer et du Cercle des Etrangers à Monaco
(“Monte-Carlo SBM”), a world renowned owner and operator of iconic luxury
hotels and resorts in the Principality of Monaco. GEG continues to explore a
range of international development opportunities with Monte-Carlo SBM including
Japan.   GEG is committed to delivering
world class unique experiences to its guests and building a sustainable future
for the communities in which it operates.

For
more information about the Group, please visit www.galaxyentertainment.com

About Galaxy International Convention Center (GICC) and Galaxy Arena

Opening in the first half of 2021 in Macau, Galaxy
International Convention Center (GICC) is a new world class event facility
developed by Galaxy Entertainment Group. GICC extends the group’s
ever-expanding integrated resorts precinct Galaxy Integrated Resorts, creating
Asia’s ultimate integrated Resort & MICE destination — and supporting
Macau’s vision of becoming a ‘World Center of Tourism and Leisure’.

As Asia’s most iconic and advanced MICE
destination, Galaxy International Convention Center (GICC) is a world class
event venue with a total MICE space of 40,000m² for meetings,
incentives, conferences and exhibitions. Additionally, the 16,000-seat Galaxy
Arena is set to become Macau’s ultimate integrated entertainment venue for world-tour
concerts and spectacular large-scale sporting events.

For more information, please visit: www.galaxyicc.com

About Andaz

Global in scale while local in
perspective, the Andaz brand of luxury hotels weaves the sights, sounds, and
tastes of each property’s surroundings for a distinctively local experience.
Through thoughtful, unscripted service tailored for travelers, Andaz hotels
enable guests to go beyond the familiar and satiate their curiosity while
immersing them in the spirit of
the eclectic culture around them. Twenty-one Andaz hotels are currently
open: Andaz 5^th Avenue and Andaz Wall Street in New York, Andaz San
Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort &
Bungalows, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Ottawa ByWard
Market, Andaz Mayakoba Resort Riviera Maya, Andaz Costa Rica Resort at
Peninsula Papagayo, Andaz London Liverpool Street, Andaz Amsterdam
Prinsengracht, Andaz Munich Schwabinger Tor, Andaz Vienna Am Belvedere, Andaz
Singapore, Andaz Delhi, Andaz Xintiandi in Shanghai, Andaz Tokyo Toranomon
Hills, Andaz Seoul Gangnam, and Andaz Capital Gate Abu Dhabi. For more information, please visit andaz.com. Follow @Andaz on Facebook, Twitter and Instagram, and tag photos with #WhenInAndaz.

About Hyatt Hotels Corporation

Hyatt
Hotels Corporation, headquartered in Chicago, is a leading global hospitality
company with a portfolio of 20 premier brands. As of June 30, 2019, the Company’s
portfolio included more than 875 properties in over 60 countries across six continents.
The Company’s purpose to care for people so they can be their best informs its
business decisions and growth strategy and is intended to attract and retain
top colleagues, build relationships with guests and create value for
shareholders. The Company’s subsidiaries develop, own, operate, manage,
franchise, license or provide services to hotels, resorts, branded residences,
vacation ownership properties, and fitness and spa locations, including under
the Park Hyatt^®, Miraval^®, Grand
Hyatt^®, Alila^®, Andaz^®,
The Unbound Collection by Hyatt^®, Destination^®,
Hyatt Regency^®, Hyatt^®, Hyatt
Ziva™, Hyatt Zilara™, Thompson Hotels^®,
Hyatt Centric^®, Caption by Hyatt, Joie de Vivre^®,
Hyatt House^®, Hyatt Place^®, tommie™, Hyatt Residence Club®
and
Exhale® brand names, and operates the World of Hyatt® loyalty
program that provides distinct benefits and exclusive experiences to its valued
members. For more information, please visit www.hyatt.com.

Deals over RMB 100 million up 28% on prior quarter

HONG KONG,
CHINA – Media OutReach – 5 November 2019 – Investment volume in Mainland China’s commercial real estate (CRE)
investment market strengthened in Q3, with deals over RMB 100 million totaling
RMB 49.7 billion, up 28% q-o-q, according to Cushman & Wakefield Research’s
latest Greater China Capital Markets
Express report. However, when compared with last year’s peak levels, the total
investment level in the CRE market in Q3 was down 28% y-o-y.

Catherine Chen, Head of Capital Market
Research, Greater China at Cushman & Wakefield and author of the report, commented: “A notable
shift was the return of domestic buyers, who took more than 90% of the
quarter’s investment volume, with a dominant advantage in acquiring publicly
auctioned assets and pre-distressed assets. We also witnessed an increase in
demand from owner-occupiers in acquiring office assets, largely domestic
investors.”

James
Shepherd, Head of Research, Asia Pacific at Cushman & Wakefield, stated: “The
government’s clampdown on real estate developer financing does present
opportunities for international investors in the Mainland China market, yet,
despite this, we have seen a significant slide in transaction volume over the
past two quarters. Headwinds from trade tensions, coupled with the weakening
yuan, have created increasing challenges for international investors. However,
we still see significant interest from investors from Hong Kong China and Singapore,
and we expect considerable pent-up demand to be released once greater certainty
around the RMB exchange rate becomes more apparent.”

Over the
first three quarters, Hong Kong-based investors have deployed an impressive RMB
16.3 billion, followed by investors from Singapore who have invested RMB 9.6
billion into Mainland China’s CRE market. Notable deals have included Hong Kong-based
Link REIT’s acquisition of Shenzhen’s Central Walk for RMB 6.6 billion. Singapore-based
Keppel has made multiple purchases, including Yi Fang Tower in Shanghai,
Zhongguancun Neo in Beijing, a joint investment into Westmin Plaza in
Guangzhou, and most recently in Q4, Ronsin Technology Center via Alpha
Investment Partners.

The office sector
represented 55% of the quarter’s investment, primarily driven by a few large
transactions in Beijing, namely the purchases of Lize Plaza, Pangu Plaza and
HNA Plaza, all by domestic buyers. Nonetheless, excluding Beijing, office
investment volume (including office space in mixed use developments) weakened
in most of the Tier One and Tier Two cities tracked by Cushman and Wakefield. The
weakening investment was primarily due to softening office leasing demand, as net
absorption levels for the first three quarters of 2019 were down 56% and 58% in
comparison to the same period in 2017 and 2018, respectively.

Contributing
factors to the weakening demand in the office leasing sector included slower
expansion of co-working operators and financial services companies, and a
general cost-saving strategy adopted by most tenants given ongoing trade
tensions and a slowdown in economic growth.

Chen added: “Looking ahead, we expect that the
recent preliminary agreement reached by China and the U.S. on trade will likely
provide some market confidence, and in turn will hopefully support end-user
demand, rental levels, and ultimately gross yields towards yearend and in 2020.”

Investment
in retail assets saw a boost over the first three quarters, with investment
volume up 55% y-o-y. The recovery in retail sales could be attributed to recent
personal tax cuts and the implementation of new e-commerce regulations with
stricter requirements on business registration and taxation — especially on
overseas e-commerce retailers and personal shoppers. The narrowing gap between
overseas and home-market prices should in turn help to bring some demand back
to the home market, and back to bricks-and-mortar retailers active in China.

Riding on
the wave of returning demand, several substantial retail assets changed hands
this quarter, including Vipshop’s buyout of Shanshan Group China outlets
portfolio and China Everbright’s acquisition of Zhongguancun Times Shopping
Center in Beijing. 

Francis Li, International Director, Vice
President, Greater China, Head of Capital Markets, Greater China at Cushman
& Wakefield, concluded: “Despite a slowdown in the overall investment
volume in Mainland China over the past two quarters we still observe strong
investor interest, especially in high-grade logistics assets and alternative
asset classes such as data centers. As the largest nation in the Asia Pacific
region, both in terms of geographical size and economic power, China offers an
array of investment opportunities across many product types and stands as an
indispensable investment destination for many international investors.”

Click here to view the full report.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global
real estate services firm that delivers exceptional value for real estate
occupiers and owners. Cushman & Wakefield is among the largest real estate
services firms with 51,000 employees in approximately 400 offices and 70
countries. Across Greater China, there are 22 offices servicing the local
market. The company won four of the top awards in the Euromoney Survey 2017
& 2018 in the categories of Overall, Agency Letting/Sales, Valuation and
Research in China. In 2018, the firm had revenue of $8.2 billion across core
services of property, facilities and project management, leasing, capital
markets, valuation and other services. To learn more, visit www.cushmanwakefield.com.hk or follow us on
LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china)

SINGAPORE – Media
OutReach – 4 November 2019 – Microsoft
announced the global debut of a retail solution, available first in Harvey
Norman, that empowers consumers to make informed purchase decisions amidst the
myriad of options available online and offline.

The
solution, called Microsoft Synchronized Shopping, is one expression of
Microsoft’s broader retail
reimagined strategy aimed
at simplifying the consumer journey by leveraging intelligent cloud
technology. 

“Enabling great customer experiences is at the heart
of our retail reimagined initiative, and this new intelligent edge solution is
designed to break customer choice paralysis by providing a seamless online and
in store experience,” said Ami Silverman, corporate vice president, worldwide
sales, consumer & device sales division, Microsoft. “Microsoft Synchronized
Shopping marks the first of many innovative solutions that we and our partners
will bring to market to transform the retail journey, and we are honored that
our longstanding partner Harvey Norman is piloting this experience with us.”  

“Customers
must be able to make decisions holistically, especially in a digitally connected
world. This has always guided how we curate our assortment of offerings, and it
now shapes how we look at connecting online and offline channels seamlessly for
our customers. Synchronized Shopping is a major step in the right direction to
help all of us live this ‘connected life’. I am excited to see the results of
this pilot run and we will continue to improve on and expand this experience.”
said Katie Page, chief executive officer of Harvey Norman.

With
the online proliferation of options and the anywhere/anytime nature of shopping
via mobile devices, two issues plague the customer journey for consumer
electronic purchasers today. First, shoppers (80% of whom start their journey
online[1]) end up delaying or even
postponing a purchase because they are overwhelmed by the number of choices.
Second, they find it difficult to choose the product that best meets their
needs, without conducting extensive research, and often end up buying a
less-than-satisfactory device. This “choice paralysis” inspired the design of
Microsoft Synchronized Shopping.

With
the Microsoft Synchronized Shopping solution, shoppers use a customized
conversational A.I. driven product advisor, on the Harvey Norman website, that
asks a series of questions to identify their needs, then recommends devices
that best meet those specific needs such as long battery life or storage
capacity. Product advisor results reflect devices that are on display in Harvey
Norman, where customers can go to try them out. The immersive and engaging experience
starts when the shortlisted device(s) on the website creates a shopper pass on
the mobile device with embedded geo-location services. When shoppers are in
proximity of the store where the specific PCs are available, they get a phone
notification, and once they enter the store are guided to the exact PCs that
were recommended by the online advisor. This simplifies the in-store
experience, eliminating the need for shoppers to spend time navigating through
all the choices in the PC aisle. In addition, it provides a seamless
online-offline purchase journey tailored to their needs which is highly secure
(and with no footprint of the user on any of the interacting devices).

Microsoft
Synchronized Shopping was developed in partnership with Microsoft Gold partner Popcornapps,
and is built on highly scalable Azure cloud services, progressive web-apps
(PWA) and geo-location based services. The PWA is designed to work with
multiple form factors across iOS and Android devices and interacts with the
devices in-store using a UWP (Universal Windows Platform) application. Today’s
launch is celebrated in tandem with Harvey Norman Singapore’s 18^th
anniversary, another milestone in their track record of retail innovation.

Microsoft Synchronized Shopping is currently exclusively
piloted at the Harvey Norman Millenia Walk Flagship Store. Consumers in
Singapore can begin their online journey here: https://www.harveynorman.com.sg/microsoft-synchronized-shopping/

About Microsoft

Microsoft
(Nasdaq “MSFT” @microsoft) is the leading platform and productivity company for
the mobile-first, cloud-first world, and its mission is to empower every person
and every organization on the planet to achieve more.

About Harvey Norman

Harvey Norman from Australia is a leading
household name in Singapore. A retail chain offering wide range of Electrical,
Computers, Furniture and Bedding products. Harvey Norman has a prominent
international presence with stores in Australia, New Zealand, Ireland,
Slovenia, Croatia and Malaysia.