Bangkok--30 Apr--TQPR
Las Vegas Sands Corp. (NYSE:LVS), together with Starwood Hotels & Resorts Worldwide, Inc. and Shangri La Hotels and Resorts recently celebrated the progress being made on the Cotai Strip? in the People’s Republic of China Special Administrative Region of Macao.
The Cotai Strip, which is currently being developed by Las Vegas Sands Corp., is a master-planned development of resort casino properties on an area of reclaimed land between the islands of Taipa and Coloane in Macao. The Cotai Strip will be home to a wide array of shopping, dining, and entertainment options, as well as 20,000 rooms branded by some of the most prestigious names in the hotel industry.
Starwood Hotels and Resorts will manage the approximately 4,000-room Sheraton Macao Hotel and more than 400 hotel rooms and an additional 1.2 million square feet of luxury-serviced apartments under the St. Regis brand. Shangri-La Hotels and Resorts will operate the 600-room Shangri-La Hotel, Macao and the 1,200-room Traders Hotel, Macao.
Shangri-La Hotel, and the first phase of the Sheraton Macao Hotel, representing nearly 2,000 rooms, are on target to open in 2008. The St. Regis Hotel and the second phase of the Sheraton Macao are scheduled to open in 2009.
The progress in the entertainment and retail aspects has been significant. In addition to the Cirque du Soleil show planned for The Venetian Macao and an ongoing partnership with the NBA to provide a variety of international basketball events, the company is working to finalize deals to bring other exciting sporting events, popular touring shows, major concerts, and a variety of special events to the Cotai Strip.
Photo shows: Participating at the press conference (from left) Steven Weaver, President — Asian Region, Las Vegas Sands Corp., Symon Bridie, Chief Operating Officer of Shangri-la Hotel and Resort, William P. Weidner, President and Chief Operation Officer of Las Vegas Sands Corp., Sheldon G. Adelson, Chairman and Chief Executive Officer of Las Vegas Sands Corp., Dr. Miriam Adelson and Matthew Fry, Vice President, Acquisition and Development of Starwood Asia Pacific.
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