Adelson expects the first phase of the development to open in the 3Q of 2011

Next phase of Cotai Strip development on track with completion of us$ 1.75 billion project financing

2010-05-21
Reading time 45 seg

"The completion of the Shangri-La, Traders, and Sheraton complex represents a critical next step in Macau's ability to both diversify its economy and further reach its potential as a full-scale leisure and business destination," said Sheldon G. Adelson, chairman of Las Vegas Sands and Sands China Ltd.

"The additional 6,000 hotel rooms are especially important in growing the meeting and convention business in Macau. The additional capacity will open up a new and larger base of potential customers who, because of the size of the events, were not previously able to bring their meetings or conventions to Macau," he added.

Adelson said he expects the first phase of the development, which will feature approximately 3,700 hotel rooms and suites from the Shangri-La, Traders and Sheraton hotel brands and additional retail, gaming and meeting/convention facilities, to open in the third quarter of 2011. Phase two includes a 2,300-room Sheraton hotel tower, as well as other non-gaming amenities, and is expected to open approximately six months later. Timing for the completion of a third phase, which includes plans for a St. Regis hotel and serviced-apartments, will be announced at a later date.

Related topics:
Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR