Sands China looks for new partner on Macau hotel project
30 March 2011
Sands China is in talks with InterContinental Hotels Group (IHG) to manage two hotel towers in Macau following the termination of an earlier agreement with Shangri-La Asia, it has been revealed.
Sands China on March 24 issued a statement saying it had terminated its hotel management agreement with Shangri-La for the parcel 5 of the Cotai Strip development in Macau.
“The termination was mutually agreed upon between the company and Shangri-La and the matter has been resolved in an amicable manner,” Sands China said.
Sands China added that it was seeking a replacement hotel manager and had already begun discussions with a prominent international hotel brand of ‘comparable sales and marketing network and customer base’.
Marriott International and Hilton have also been cited as in talks on the project, according to a report by local publication Macaubusiness.com
Sands China said it remains committed to opening the first phase of parcels 5 and 6 of its Cotai strip development by the end of 2011.
A separate management agreement with Starwood Hotels to operate the hotels on parcel 6 under its Sheraton and St.Regis brands remains in place, the company said.
In other news, Sands China chairman Sheldon Adelson has dismissed a lawsuit filed by former Sands China chief executive Steve Jacobs as ‘not a serious case’,Macaubusiness.com reports.
Jacobs' employment as chief executive was terminated in July 2010. In October, he filed a lawsuit alleging wrongful dismissal.
