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Jumeirah to operate Macau property
The Jumeirah Group is to operate a five-star hotel in Macau as part of an agreement with Hong Kong developer Shun Tak Limited.
- By Suzanne Fenton, Staff Reporter
- Published: 23:25 December 2, 2008
- The Burj Al Arab in Dubai, a Jumeirah property. The Jumeirah Macau is the group's third management agreement in China.
- Image Credit: Gulf News archive
Dubai: The Jumeirah Group is to operate a five-star hotel in Macau as part of an agreement with Hong Kong developer Shun Tak Limited.
The Jumeirah Macau hotel is located in the tourist hub of Cotai and is scheduled for completion in 2013.
Details are not finalised as it is still in the planning stages, a spokesperson from Shun Tak told Gulf News.
Shun Tak officials are optimistic that the venture will help Macau's tourism industry. "This project came about at a time when some 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 will continue to invest in its future, trusting that it will be one of the first destinations to recover from the recent market adjustments," Pansy Ho, managing director of Shun Tak, said.
The tourism industry is growing steadily in Macau with figures from the Statistics and census service showing good growth.
Gross fixed capital formation of Macau's hotel sector was 14.2 billion Macau pataca (Dh6.4 billion) in 2007, a surge of over 48 per cent from the previous year. Total expenditure of the hotel sector increased more than 88 per cent in 2007 from 2006, at 9.4 billion Macau pataca.
The Jumeirah Macau hotel is the third management agreement for the Jumeirah Group in China, said Gerald Lawless, executive chairman of Jumeirah Group. The previous two include the Jumeirah HanTang Xintiandi, scheduled to open in Shangahi in 2009 and the Jumeirah Guangzhou hotel, scheduled for 2011.
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