Jumeriah agrees deal for Macau hotel

Jumeriah Group has signed a management agreement with Shun Tak Holdings
Limited which will have Jumeirah operating a new luxury hotel in the Cotai
area of Macau, a region of China.
The new agreement was announced by Ms. Pansy Ho, Managing Director of Shun
Tak and Mr Gerald Lawless, Executive Chairman of Jumeirah Group, at a
signing ceremony held in Hong Kong.

The Jumeirah Macau Hotel, scheduled for completion in 2013, will set a new
standard for luxury hotel and hospitality services in the Chinese enclave
when it emerges as a leading tourism and convention hub in the region.
Strategically located amid the tourism epicentre of Cotai, the new Jumeirah
hotel will enjoy a spectacular view of the Macau Dome, where the city’s
major sports and cultural entertainment events are hosted.


“As the forerunner to introduce premium international hotels brands in
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,” said Ms. Pansy Ho. “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 (we) will continue to invest in
its future, trusting that it will be one of the first destinations to
recover from the recent market adjustments.”



Speaking on the new agreement struck with Jumeirah Group, Ms. Ho commented:
“Internationally acclaimed for its capability and proven track record to
operate and manage an enviable portfolio of high end luxury hotels around
the globe, this partnership (with Jumeirah Group) is instrumental to Shun
Tak’s strategy of establishing a strong foothold and market presence in the
hotel and hospitality industries in the long run.”


Gerald Lawless, executive chairman of Jumeirah, said: “Jumeirah is
recognised as one of the leading luxury international hotel brands, and is
known for being the operator of the world famous Burj Al Arab, regarded as
the world’s most luxurious hotel. 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.