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Kerzner delays hotels due to credit crisis
Kerzner International Ltd, the hotel and casino company, will put off construction of two One&Only hotels and one Atlantis property until capital markets improve, its billionaire owner Sol Kerzner said.
- Bloomberg
- Published: 23:35 November 20, 2008
Dubai: Kerzner International Ltd, the hotel and casino company, will put off construction of two One&Only hotels and one Atlantis property until capital markets improve, its billionaire owner Sol Kerzner said.
"We are obviously having to adapt" to the economic downturn, Kerzner, in Dubai to open his new $1.5 billion Atlantis resort, said in an interview with Bloomberg Television. Kerzner has already raised funds for two new hotels, one to open under the One&Only brand in Cape Town in May, and a casino-hotel south of Casablanca, Morocco that will be ready in October.
Kerzner's new Atlantis resort in Dubai, the sister of the Atlantis Paradise Island in the Bahamas, includes a dolphin bay and a water park. The resort's launch party on Thursday, costing $20 million, featured performances by pop singer Kylie Minogue and Bollywood star Priyanka Chopra.
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