New Starwood Hotels Planned For Cotai Strip

Starwood has reached an agreement with Las Vegas Sands Corporation to develop two hotels on the Cotai Strip development in Macao: The Sheraton Macao Hotel and The St. Regis Hotel & Residences, Macao.

The 4,000-room Sheraton Macao Hotel is expected to open in 2008 and the 460-room St. Regis Hotel and over 400 St. Regis Residences will open in 2009. The Sheraton hotel will be the largest hotel to be built on the strip, as well as Starwood's largest hotel globally.

The two-hotel project is poised to provide a major presence for Starwood in Macao, as well as being an integral part of a new flagship development in the new "Las Vegas of Asia." The Cotai Strip is a master planned development of resort casino properties on Cotai, an area of reclaimed land between the islands of Taipa and Coloane in Macao.

"Starwood is excited to bring two of its renowned brands to the fast-growing Cotai Strip. The Sheraton and St. Regis brands each bring to life their own distinct brand positionings, delivering a differentiated travel experience for travelers," commented Miguel Ko, President of Starwood Hotels & Resorts, Asia Pacific. "With the growth in demand for gaming in Macao and the government's active plans to promote Macao as a top destination, we expect demand in travel to grow steadily," added Ko.

"Starwood is a well-respected international company and the Sheraton and St. Regis brands are synonymous with superior quality and service," said William P. Weidner, President and Chief Operating Officer of Las Vegas Sands Corp. "Their presence on the Cotai Strip speaks volumes to the commitment we all have of establishing Macao as a true leisure and business travel destination."

Macao is a Special Administrative Region of China. It is located on the Southeast coast of China and the western bank of the Pearl River Delta. Bordering on Guangdong Province, it is located 40 miles from Hong Kong and 90 miles from the city of Guangzhou. Macao has had an annual growth rate of close to 20% since 1998, with tourist arrivals expected to grow at an aggressive average of 18% annually. With the removal of the casino gaming monopoly in Macao in December 2001, new casino developments are quickly establishing the Cotai Strip as the ‘new Asian Las Vegas.'

The Sheraton Macao Hotel's facilities will be located within two towers and will include approximately 4,000 rooms, 5 restaurants, over 140,000 square feet of meeting space, one health club in each tower, a spa, and two outdoor swimming pools. At the hotel, guests will experience Sheraton's warm, intuitive service and signature amenities designed to provide travelers with a sense of community while on the road.

The St. Regis Hotel will offer guests approximately 460 rooms, including 341 standard rooms and 119 suites, 4 restaurants, meeting space, a health club, a Remède Spa, and a swimming pool. The St. Regis Residences will feature over 400 residential units, ranging from one-bedroom to four-bedroom units, a residence-only swimming pool and its own health club. The St. Regis Hotel & Residences will offer guests and residence owners the famed hallmarks of St. Regis hotels – butler service and luxury accommodation for worldly travelers.