Melco Resorts and Entertainment Limited will launch its brand new hotel brand, NÜWA, in Macau and Manila today as it farewells the last remaining link with former partner Crown Resorts.
NÜWA will replace Crown Towers hotels at Melco’s flagship City of Dreams in Macau as well as City of Dreams Manila, with Chairman and CEO Lawrence Ho having previously described the new brand as embodying “the very essence of Melco’s pursuit to provide our guests the very best in sophistication, quality and innovation.”
In a previous press release, Melco said, “Inspired by the eponymous heroine from Chinese mythology, NÜWA represents classic Asian refinement. The new brand further exemplifies Melco’s core mission to continue providing a better guest experience. It is the first step in the preparation of the launch of phase III of City of Dreams Macau in the second quarter of 2018.”
Notably, share prices in Melco Resorts have risen by 50% since its former partner first began selling down its 34.3% stake in 2016 with shares sitting at US$27.01 on NASDAQ at the time of writing.
Crown sold its shares for between US$15.50 and US$17.91 over the course of 12 months in 2016 and 2017.
