Jumeirah Macau: Shun Tak Announces New Cotai Project
Shun Tak Holdings has announced Jumeirah will be the hotel partner for it's Cotai project Jumeirah Macau Hotel.
Dubai-based Jumeirah operates luxury hotels world wide including Essex House (New York), Burj Al Arab (Dubai), Jumeirah Lowndes (London), Jumeirah HanTang Xintiandi (opening 2009, Shanghai) as well as serviced residences, a water park, spa goodies and a luxury goods eCommerce operation.
Jumeirah Macau Hotel is shooting for a 2013 opening of the five star Macau Dome adjacent luxury hotel.
The press release didn't mention anything about a casino, but there will undoubtably be one. The question is, who will operate it?
Shun Tak does not have a concession, but Pansy Ho's has numerous options. Ms. Ho's other company, MGM Grand Paradise (50/50 partnership with MGM Mirage) does. Being that MGM Mirage has been turning towards casino operations opportunities, particularly ones that don't involve significant investment or reduce their debt load (CityCenter/Aria in Las Vegas, Ho Tram Strip in Vietnam) an ops deal for Jumeirah makes sense. If a deal to work with MGM Mirage were in the cards, they would've horned in on the press release today. It should be noted that MGMMirage honchos met with Jumeirah in 2006 in Dubai.
A more probable move would be to give the casino ops deal to SJM. Stanley Ho is Pansy's dad, and the chairman of Shun Tak and the head cheese of SJM and has barely any plans for Cotai beyond the sliver corner on the north western tip of the Macao Studio City site.