MACAO, CHINA — (MARKET WIRE) — 08/05/11 — Sands China Ltd., a majority-held subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS), today announced that franchise agreements with Hilton Worldwide and IHG (InterContinental Hotels Group) will see the two leading companies launch their respective Conrad and Holiday Inn brands at Sands’ newest Cotai Strip® development in Macao starting early next year.
Sands China also announced today that the property long-referred to as parcels five and six has now officially been named Sands Cotai Central. Arguably the largest and most ambitious development in the history of the hospitality and gaming industry, Cotai Central will feature a combination of 6,000 rooms and suites from the Conrad, Sheraton, Sheraton Towers and Holiday Inn brands. It will also have expansive meeting and convention space, two casinos, and a wide and diverse offering of luxury retail outlets, entertainment and dining options.
“When the doors to the rooms and suites at Cotai Central start swinging open early next spring, Macao’s metamorphosis from a gaming-centric regional location into an international leisure and business destination will be one step closer to completion,” said Mr. Sheldon G. Adelson, who serves as chairman of both Sands China Ltd. and Las Vegas Sands Corp. “With internationally-renowned hotel brands, countless non-gaming attractions, and casino facilities which represent less than two percent of the property’s total space, we would be proud to have Cotai Central become the government’s model for future development in Macao.”
Mr. Adelson added that the openings at Cotai Central will provide thousands of new non-gaming jobs, grow non-gaming revenues, and expand a variety of non-gaming business segments in Macao, specifically the Meetings, Incentive, Convention and Exhibition trade. “When combined with our existing properties, Cotai Central will provide the critical mass I’ve always said is necessary to persuade a larger and broader set of meeting and convention organizers into holding their events in Macao,” said Mr. Adelson.
Hilton Worldwide’s five-star Conrad Macao, Cotai Strip is expected to open at Cotai Central in the first quarter of 2012 and will feature more than 600 rooms and suites. Conrad Macao, Cotai Strip joins open Conrad Hotels in Hong Kong and Sanya Haitang Bay, and a pipeline of 18 Conrad Hotels and Resorts scheduled to open within the next four years, including seven hotels under construction in Dalian, Beijing, Suzhou, Guangzhou, Tianjin, Qingdao and Xiamen in China and other global destinations such as Koh Samui (Thailand), New York, Seoul (Korea) and Dubai. Specializing in luxury and sophisticated hotels and resorts, Hilton Worldwide currently operates 3,750 hotels in 84 countries.
The four-star Holiday Inn Macao, Cotai Strip by IHG is also scheduled to open late first quarter 2012. It will feature more than 1,200 rooms and suites. IHG is the world’s largest hotel company by number of rooms. Present in over 50 Chinese cities, IHG is currently the largest international hotel company in Greater China with more than 150 hotels open under five brands and nearly another 150 hotels in the development pipeline. As part of its rapid expansion, one in four of the hotel rooms that IHG opens over the next five years will be in China.
“The Cotai Strip combination of The Venetian Macao, Four Seasons at The Plaza Macao, Conrad, Sheraton, Sheraton Towers and Holiday Inn will provide the broadest and best selection of hospitality products suitable for families, business travelers and independent travelers at multiple price points,” said Mr. Edward Tracy, president and chief executive officer of Sands China Ltd. “Cotai Central will specifically provide high-end branded products for premium guests seeking a luxury lifestyle, with a diverse range of entertainment, retail, dining and accommodation for affordable luxury on the Cotai Strip.”
Mr. Tracy said that Hilton and IHG will bring their own competitive advantages, sales infrastructure and brand values to Cotai Central, which will complement existing anchor Sands China properties and further increase and enhance Macao’s reputation as the premier and most diversified tourism destination in the region.
About Sands China Ltd.
Sands China Ltd. (HKSE: 1928) (Sands China or Company) is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS), and a listed company on the Hong Kong Stock Exchange. Sands China is the largest operator of integrated resorts in Macao. The Company owns and operates THE VENETIAN® Macao-Resort-Hotel and THE PLAZA™ Macao at COTAI STRIP® development and the SANDS® Macao Hotel on the Macao peninsula. The Company’s integrated resorts contain a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities, a wide range of restaurants, shopping malls, world-class entertainment at CotaiArena™ and high-speed CotaiJet™ ferry service between Hong Kong and Macao. The Company is also developing new properties on Cotai, with its goal of transforming Cotai into Asia’s premier entertainment and business destination. For more information, please visit www.sandschinaltd.com.
About Hilton Worldwide
Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 92 years, Hilton Worldwide has been offering business and leisure travellers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,750 hotels and 615,000 rooms in 84 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, Doubletree, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®. For more information about the company, visit www.hiltonworldwide.com.
InterContinental Hotels Group (IHG) (LSE: IHG) (NYSE: IHG) (ADRs) is a global company operating seven well-known hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®. IHG also manages Priority Club® Rewards, the world’s first and largest hotel loyalty programme with 58 million members worldwide.
IHG is the world’s largest hotel group by number of rooms and IHG franchises, leases, manages or owns, through various subsidiaries, a portfolio of over 4,400 hotels and more than 652,000 guest rooms in 100 countries and territories around the world.
IHG has more than 1,200 hotels in its development pipeline and expects to recruit around 160,000 people worldwide over the next few years.