Sociedade de Jogos de Macau has signed an agreement with Italian fashion giant Versace to develop a branded luxury hotel as part of SJM’s planned gaming resort on Cotai.
Asia’s first “Palazzo Versace” (there is one in Australia and one under construction in Dubai) will target Macau’s booming market in tourists from China, where the obsession with high-end European brands has become legendary around the world.
“The combined expertise of Versace and SJM will create an unforgettable hospitality experience for Macau’s visitors which will enhance Macau’s role as a world-class leisure and tourism destination,” said SJM Chairman Ambrose So.
“We are delighted to partner with SJM, such a prestigious player in the industry” said Gian Giacomo Ferraris, chief executive of Versace.
SJM, the operating subsidiary of Hong Kong-listed SJM Holdings (HKSE: 880), won formal government approval in May to build a 2,000-room resort with a casino and other attractions on Cotai, joining the territory’s five other gaming licensees in the multibillion-dollar development of the booming resort district.
No details on the cost of the hotel or a completion date were released.
A signing ceremony is scheduled for 5th September at SJM’s Grand Lisboa on the Macau peninsula.
