The World's Fastest Growing Luxury Hotel Brand Signs Deal to Open Fourth Property in China; W Macao-Studio City to open in 2009
SINGAPORE, Aug. 14 /Xinhua-PRNewswire/ -- In its continued demand to select only world class destinations, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans for a new W Hotel in Macao, further solidifying the brand's extensive and rapidly growing global footprint. Scheduled to open in early 2009, this new-build W hotel will be located within the Macao Studio City complex, situated on Cotai, an area earmarked by the Macao government to become one of the main gaming, entertainment and resort developments in the Special Administrative Region. W Macao Studio City will make its debut in 2009, offering 563 guest rooms, in addition to the innovative design and full-range of branded amenities guests have come to expect of W Hotels.
Designed by Charles Allem of Charles Allem Designs International in co-operation with the W brands's award winning design team, W Macao Studio City will be an exciting keystone of this new development on Cotai. W Macao Studio City is poised to strengthen Starwood's presence in Macao, as well as being an integral part of a new flagship development in the new “Las Vegas of Asia.”
"W continues to extend beyond the boundaries of everyday travel, offering a magical mix of sexy destinations and sublime design," said Ross Klein, President of Starwood's Luxury Brands Group. "W Macao marks our fourth property in China and promises to offer extraordinary experiences at every turn through the brand's key lifestyle elements of provocative spaces, delightful indulgences and experiential surprises. From the Maldives to Milan, Hoboken to Hong Kong, W Hotels continues to go global as the influential and innovative lifestyle authority and we are proud to make Macao a W destination."
“Following the announcements of the Ws in Hong Kong, Shanghai and Guangzhou, W Macao Studio City is a logical extension of W's dynamic growth in China,” said Miguel Ko, President of Starwood Hotels & Resorts, Asia Pacific. “W brings to life its own unique positioning, delivering a differentiated travel experience for travelers and will be an irresistible destination for visitors to Macao. Macao provides guests with a wealth of entertainment options, including world-class shopping and proximity to Macao and China's most popular attractions, making it a perfect fit for the W brand”, added Ko.
“Macao Studio City brings together the best hotel partners in the world and we are excited to partner with Starwood to bring the W to Macao,” said Peter Lam, co-chairman of Macao Studio City. “Our vision is to create a must-see, must-stay and must-return destination for leisure and business travelers around the world. Along with other hotel partners - not to mention the arrival of the Playboy Mansion Macao - I firmly believe that Macao Studio City will be an experience that visitors will want to return again and again.”
“W will captivate an in-crowd of lifestyle-oriented travelers by offering its special blend of warm, witty and worldly experiences. The brand fits in very well with the overall design and direction of Macao Studio City and its positioning as the coolest place to be in Macao. Macao Studio City will be the place where the stars and celebrities will hang out,” said David Friedman, co-chairman and co-chief executive officer of Macao Studio City
“The Cotai area is seeing great momentum, and the addition of W Macao Studio City is certainly going to attract stylish and trendy customers who seek innovative design, comfort and cultural influences, to the ‘new Macao',” said Mr. Ambrose Cheung, co-chief executive officer, Macao Studio City. “Macao Studio City is developing at a rapid pace; our recent announcements have brought other world-class brands in entertainment, retail and hospitality to the complex. We are confident that W Macao Studio City, as well as the Macao Studio City complex itself, will be a tremendous success when it opens in mid-2009.”
W Macao Studio City will be an exciting addition to the brand's fast-growing international collection of hotels in the world's most vibrant cities and emerging destinations. Starwood has also recently announced it will open a 4,000-room Sheraton Macao Hotel, a 460-room St. Regis Hotel and over 400 St. Regis Residences on the strip in 2008 and 2009 respectively.
W Macao Studio City will feature 563 rooms and suites, all outfitted with the W signature bed, plasma television and wireless Internet access. The W brand's signature Living Room will offer a lounge-like atmosphere perfect for reading the paper, sipping a cappuccino or enjoying a cocktail with friends. Other facilities will include a signature restaurant, W Café, a Sweat workout facility, approximately 11,000 square feet of meeting space, an outdoor heated pool, and the W Whatever/Whenever service, the hotel's 24-hour concierge that provides whatever guests want - from a pair of running shoes to private jet service - whenever they want.
Macao is a Special Administrative Region of People's Republic 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. With the removal of the casino gaming monopoly in Macao in December 2001, new casino developments are quickly establishing Cotai as the ‘new Las Vegas of Asia'.
About W Hotels Worldwide
W Hotels is a global lifestyle brand with 21 properties in the most vibrant cities around the world. Inspiring and indulging its guests with thoughtful, refreshing and stylish experiences, signature restaurants, bars and destination spas, W has become the fastest growing luxury hotel brand in the world. Each hotel offers a unique mix of innovative design, comfort, and cultural influences from fashion to music to art and everything in between. The W brand's first residential property, W Dallas-Victory, opened in June of 2006, and soon thereafter was named a Forbes Magazine “Top Business Hotel.” W Residences, offering the W lifestyle at home, have been announced for Scottsdale (2008), Midtown Atlanta (2008), Fort Lauderdale (2008), Buckhead (2008), Hoboken (2008), Downtown Atlanta (2009), Downtown New York (2009), South Beach (2009), Phoenix (2009), Hollywood (2009), Philadelphia (2009), and Austin (2010). Internationally, W has announced plans for hotels in Istanbul (2008), Doha (2008), Hong Kong (2008), St. Petersburg (2008), Athens (2008), Santiago (2008), Milan (2008), Dubai-Festival City (2008), Shanghai (2009), Barcelona (2009), Guangzhou (2010), and Dubai-The Palm (2010). W's first Retreat & Spa, W Maldives, opened in September of 2006 and in March of 2007, received the prestigious Travel + Leisure Design Award for Best Resort. W has plans to open Retreat & Spa hotels in Vieques (2008), Koh Samui (2008), and Verbier (2010), the latter of which will serve as W's first ski retreat. For more information, visit http://www.whotels.com .
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc.(R) is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood(R) Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, W(R), Le Méridien(R) and the recently announced AloftSM and ElementSM Hotels. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit http://www.starwoodhotels.com
About Macao Studio City
Macao Studio City is Asia's first leisure resort property with studio, retail, entertainment and world-class hotels, such as The Ritz-Carlton, Marriott, W and The Tang Hotel. Macao Studio City is being developed by Cyber One Agents Limited, a joint venture between New Cotai, LLC and East Asia Satellite Television Holdings, a subsidiary of Hong Kong-based eSun Holdings (“eSun”; stock code: 571). Singapore's CapitaLand owns 33.3 per cent of East Asia Satellite Television Holdings while eSun Holdings owns the remaining 66.7 per cent.
eSun Holdings is one of Asia's leading media and entertainment companies and an associate company of Lai Sun Development (“LSD”; stock code: 488), a leading hotel and property developer. Both companies are part of Hong Kong's Lai Sun Group.
New Cotai, LLC is a consortium of US-based investors including the co-chairman and co-chief executive officer of Macao Studio City, David Friedman. Mr. Friedman is a veteran resort and gaming developer who led Las Vegas Sands' entry into Macao. The funds of New Cotai, LLC are managed by Silver Point Capital, L.P., a private US-based investment firm, and Oaktree Capital Management, LLC, a global independent investment management firm.
CapitaLand is one of the largest listed real estate companies in Asia. Headquartered in Singapore, the multinational company's core businesses in real estate, hospitality and real estate financial services are focused in gateway cities in Asia Pacific, Europe and the Middle East. The company's real estate and hospitality portfolio spans more than 90 cities in over 20 countries. CapitaLand also leverages on its significant real estate asset base, financial skills and market knowledge to develop real estate financial products and services in Singapore and the region.
For more information, please visit http://www.macaostudiocity.com
(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.)
