Starwood Signs on to Asia's Las Vegas
LAS VEGAS, NV, February 27, 2006. Las Vegas Sands and Starwood are signing on a new 1,200-room Sheraton and a 300-room St. Regis hotel being developed in Macau
It is the latest bid to attract leisure, business and convention travelers to The Cotai Strip. "Well known for its innovative spirit and stable of renowned brands, Starwood's participation furthers our goal of establishing the Cotai Strip as Asia's Las Vegas(TM)," said Sheldon Adelson, chief executive officer of Las Vegas Sands Corp.
The deal sets the stage for the development of a complex that will also showcase retail, entertainment facilities and casino gaming which will be operated by Las Vegas Sands Corp.
"The Cotai Strip is a marquis project in the world's most dynamic market, and as we continue to aggressively develop hotels throughout China to secure our position as the country's number one operator of upscale and luxury properties, this was a great opportunity to fly our flags," said Steven J. Heyer, Starwood's chief executive officer.
The Cotai Strip is a master planned development of resort and casino properties on Cotai, an area of reclaimed land between the islands of Taipa and Coloane in Macao. Las Vegas Sands has previously announced plans to develop other hotel projects including The Venetian Macao which is currently under construction, a Four Seasons hotel, a Shangri-La Hotel and a Traders hotel.
With these two latest hotel deals, starwood now has 22 hotels and resorts under construction or development in China under its Westin, Sheraton, W Hotels, Le Meridien and Four Points by Sheraton brands.
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