Sands China Ltd., a majority-held subsidiary of global resort developer Las Vegas Sands Corp. , today announced that franchise agreements with Hilton Worldwide and IHG (InterContinental Hotels Group) will see the two leading companies launch their respective Conrad and Holiday Inn brands at Sands’ newest Cotai Strip development in Macao starting early next year.Sands China also announced today that the property long-referred to as parcels five and six has now officially been named Sands Cotai Central. Arguably the largest and most ambitious development in the history of the hospitality and gaming industry, Cotai Central will feature a combination of 6,000 rooms and suites from the Conrad, Sheraton, Sheraton Towers and Holiday Inn brands. It will also have expansive meeting and convention space, two casinos, and a wide and diverse offering of luxury retail outlets, entertainment and dining options.
“When the doors to the rooms and suites at Cotai Central start swinging open early next spring, Macao’s metamorphosis from a gaming-centric regional location into an international leisure and business destination will be one step closer to completion,” said Mr. Sheldon G. Adelson, who serves as chairman of both Sands China Ltd. and Las Vegas Sands Corp. “With internationally-renowned hotel brands, countless non-gaming attractions, and casino facilities which represent less than two percent of the property’s total space, we would be proud to have Cotai Central become the government’s model for future development in Macao.”
Mr. Adelson added that the openings at Cotai Central will provide thousands of new non-gaming jobs, grow non-gaming revenues, and expand a variety of non-gaming business segments in Macao, specifically the Meetings, Incentive, Convention and Exhibition trade. “When combined with our existing properties, Cotai Central will provide the critical mass I’ve always said is necessary to persuade a larger and broader set of meeting and convention organizers into holding their events in Macao,” said Mr. Adelson.
Hilton Worldwide’s five-star Conrad Macao, Cotai Strip is expected to open at Cotai Central in the first quarter of 2012 and will feature more than 600 rooms and suites. Conrad Macao, Cotai Strip joins open Conrad Hotels in Hong Kong and Sanya Haitang Bay, and a pipeline of 18 Conrad Hotels and Resorts scheduled to open within the next four years, including seven hotels under construction in Dalian, Beijing, Suzhou, Guangzhou, Tianjin, Qingdao and Xiamen in China and other global destinations such as Koh Samui (Thailand), New York, Seoul (Korea) and Dubai. Specializing in luxury and sophisticated hotels and resorts, Hilton Worldwide currently operates 3,750 hotels in 84 countries.
The four-star Holiday Inn Macao, Cotai Strip by IHG is also scheduled to open late first quarter 2012. It will feature more than 1,200 rooms and suites. IHG is the world’s largest hotel company by number of rooms. Present in over 50 Chinese cities, IHG is currently the largest international hotel company in Greater China with more than 150 hotels open under five brands and nearly another 150 hotels in the development pipeline. As part of its rapid expansion, one in four of the hotel rooms that IHG opens over the next five years will be in China.
“The Cotai Strip combination of The Venetian Macao, Four Seasons at The Plaza Macao, Conrad, Sheraton, Sheraton Towers and Holiday Inn will provide the broadest and best selection of hospitality products suitable for families, business travelers and independent travelers at multiple price points,” said Mr. Edward Tracy, president and chief executive officer of Sands China Ltd. “Cotai Central will specifically provide high-end branded products for premium guests seeking a luxury lifestyle, with a diverse range of entertainment, retail, dining and accommodation for affordable luxury on the Cotai Strip.”
About Sands China Ltd.
Sands China Ltd. is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS), and a listed company on the Hong Kong Stock Exchange.