The Palazzo Versace Macau Hotel is expected to receive its first guests in 2017 after the Italian fashion house’s project is adapted to the local culture in order to attract customers from mainland China, the chairman of Sociedade de Jogos de Macau (SJM), Ambrose So said Thursday.
The new five-star hotel will be built in Cotai, a reclaimed area of land between the islands of Coloane and Taipa, and be 20 storeys high and have an area of 34,000 square metres made up of 270 rooms and suites, Retail areas and other facilities. It will be part of a bigger overall SJM project for that area of Macau.
The agreement to build the new hotel was signed Thursday by Angela Leong, the chief executive of Sociedade de Jogos de Macau and by Donatella Versace, vice president of the Versace group.
Although the specific amount to be invested in Palazzo Versace Macau was not announced, Ambrose So said that the hotel would be 100 percent owned by SJM, which will also manage it.
SJM, which operates 20 casinos in Macau, is the main gaming and gambling operator in the region and accounts for an average of 25 percent of total gross revenues, which in the first seven months of this year totalled 231.67 billion patacas (US$28.958 billion). (macauhub)