Jumeirah signs Management Contract for New Hotel in Macau

The Jumeirah Group has signed a management agreement with Shun Tak Holdings for a new five-star deluxe hotel in the Cotai area of Macau.

The Jumeirah Macau Hotel, scheduled for completion in 2013, will be located amidst the tourism epicentre of Cotai. The new hotel will enjoy a spectacular view of the Macau Dome, where many of the city’s major sports and cultural entertainment events are hosted. Design and configuration of the new exciting city resort development have yet to be finalised.

“As the forerunner to introduce premium international hotel brands into Macau, we are once again ready to commit to investing in more diversified products as part of our dedicated blueprint in contributing to the city’s tourism industry. Indeed, this major project came about at a time when some market players are uncertain about the future. Shun Tak’s view of the Macau economy is long term. We remain positive that its fundamental is strong and sound, and will continue to invest in its future, trusting that it will be one of the first destinations to recover from the recent market adjustments,” said Ms. Pansy Ho, Managing Director of Shun Tak.

Gerald Lawless, Executive Chairman of Jumeirah, added, “This is the third management agreement that we have signed in China, with the first Jumeirah HanTang Xintiandi scheduled to open in Shanghai in 2009 and Jumeirah Guangzhou Hotel in 2011. We look forward to working with Shun Tak and to the opening of the Jumeirah Macau Hotel.”

The Shun Tak Group owns a portfolio of valuable hotel properties in Macau, including two of the first international hotel labels in the enclave, with a third to be launched as part of its One Central development. In 2008, with the scheduled completion of a new airport hotel adjacent to the Hong Kong International Airport, Shun Tak will enter the Hong Kong hotel market for the first time, a vital step to complement its strategic tourism and hospitality services network in the up-and-coming travel hub in Chek Lap Kok, Hong Kong.

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