Shun Tak and Jumeirah Group sign management agreement for five-star deluxe hotel in the Cotai area of Macau
Hong Kong and Macau - 2 December 2008 - Shun Tak Holdings Limited ("Shun Tak") has signed a management agreement with Jumeirah Group, the Dubai-based luxury hotel management company and a member of Dubai Holding, to operate its newest five-star deluxe hotel in the Cotai area of Macau.This 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 today 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 as it emerges as a leading tourism and meetings and convention hub in the region. Strategically located amidst the tourism epicentre of Cotai, the new hotel will enjoy a spectacular view of the Macau Dome, where 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, but the finished product is deemed to become a true escapade for the most discerning guests who would appreciate quality and exclusivity in the heart of the action.
"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." remarked Ms. Pansy Ho, Managing Director of Shun Tak. "Internationally acclaimed for its capability and proven record to operate and manage an enviable portfolio of high-end luxury hotel around the globe, this partnership 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," added Ho.
"Macau has a rich and unique heritage of Asian and European influences, and the Jumeirah Macau Hotel will certainly be a perfect addition to our international portfolio of hotels and resorts, in line with our promise to STAY DIFFERENT," explained Gerald Lawless, Executive Chairman of Jumeirah. "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," concluded Gerald Lawless.
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.
About Shun Tak Holdings Limited |Shun Tak Group owns a portfolio of valuable hotel properties in Macau, including the 50% owned Mandarin Oriental Macau, and 34.9% owned Westin Resort Macau.In 2008, with the scheduled completion of the new SkyCity Marriott Hotel at the Hong Kong International Airport, Shun Tak will debut in the Hong Kong hotel market.A five-star, 658-room waterfront hotel project located in SkyCity, a business and leisure community developed by The Airport Authority Hong Kong, the new hotel will set a new standard for luxury airport hotels.
Shun Tak is a leading listed conglomerate with core businesses in property, hospitality, transportation and investment. It has a proven track record in the property markets of Hong Kong and Macau and currently owns one of the largest land banks in Macau among listed companies in Hong Kong. Traditionally, Shun Tak has a strong presence in Macau with substantial direct and indirect investments in the transportation, gaming and hospitality industries. Shun Tak was a pioneer in top-tier hotel services in Macau through its investments in the Mandarin Oriental Macau and Westin Resort Macau. The Macau Tower Convention & Entertainment Centre, managed by Shun Tak, is an established landmark in Macau. Shun Tak has the largest fleet of high-speed passenger ferries in Asia, operating in its established air-sea-land multi-modal transportation network within the Pearl River Delta to complement Macau's vibrant development. Shun Tak's shares are listed on the Hong Kong Stock Exchange.
About the Jumeirah Group| Jumeirah Hotels & Resorts are regarded as among the most luxurious and innovative in the world and have won numerous international travel and tourism awards. The Dubai-based luxury international hotel management group encompasses the world renowned Burj Al Arab, the world's most luxurious hotel, the multi-award winning Jumeirah Beach Hotel, Jumeirah Emirates Towers, Madinat Jumeirah and Jumeirah Bab Al Shams Desert Resort & Spa in Dubai, the Jumeirah Carlton Tower and Jumeirah Lowndes Hotel in London and the Jumeirah Essex House in New York.
The Group's activities are, however, not restricted to hotel and resort management. The Jumeirah Group portfolio also includes Jumeirah Living, the Group's luxury brand of serviced residences offering effortless living in luxurious surroundings; global spa brand Talise Wellness; The Taste Department, the company's dedicated restaurant division; Wild Wadi water park; The Emirates Academy of Hospitality Management, the region's only fully accredited third-level academic institution delivering specialised degree programmes in hospitality management; and Jumeirah Retail, with its 15stores and dedicated luxury online store www.jumeirahcollection.com. Sirius, Jumeirah's Recognition and Rewards programme, offers members the ability to earn Sirius Points every time they stay, dine or shop with Jumeirah.
Building on this success, Jumeirah Group became a member of Dubai Holding in 2004, a collection of leading Dubai based businesses and projects, initiating a new phase of growth and development for the group.
Jumeirah has extensive expansion plans to grow its portfolio of luxury hotels and resorts into key gateway or letterhead cities and aspirational resort destinations worldwide. Currently, the Group has several luxury five-star properties under development in the United Arab Emirates, Jordan, Qatar, Oman, Bahrain, Kuwait, Maldives, Bali, Thailand, China, Argentina, Spain, England, Scotland and the US Virgin Islands. In 2009, the Group is eagerly anticipating the grand opening of Jumeirah HanTang Xintiandi in Shanghai, Jumeirah's first hotel in the Asia Pacific region.
