SJM CASINO RESORT COTAI: Palazzo Versace opens in 2017, construction to begin soon

2013-9-6

From：Macau Daily Times

The partnership has been signed: the casino operator Sociedade de Jogos de Macau (SJM) and Versace have teamed up in order to build a luxury five star fashion-branded hotel in Cotai, due to open in 2017. Donatella Versace, the current President of Versace Group, participated in yesterday’s signing ceremony at Grand Lisboa, alongside SJM Managing Director, Angela Leong. Versace is aiming to conquer the Chinese market.
The CEO of SJM, Ambrose So, chose not to disclose any details regarding the budget set for the hotel, but stated that HKD25 billion will be invested in the whole casino resort project in Cotai. He underlined the fact that Palazzo Versace will be “the first international high-fashion branded hotel in Macau, occupying its own tower in SJM’s destination resort in Cotai.” Construction will begin in the next few months, Mr. So added.
The hotel will be housed in a 20-storey tower, with a built area of approximately 34,000 square meters. It will consist of 270 rooms and suites, and will include one gourmet restaurant, a spa, bars, indoor and outdoor swimming pools and retail spaces, among other facilities.
Its interior, as well as the furnishings of all guestrooms, will be designed and developed by Versace, with Donatella Versace leading the team. Gian Giacomo Ferraris, the CEO of Gianni Versace, explained: “Through a team of experienced interior designers, based in Milan (Italy), Donatella Versace will take care of design aspects related to the hotel, from the lobby to rooms, suites and exclusive amenities.”
Asked if the design will somehow reflect Chinese culture, Gian Giacomo Ferraris replied that Versace’s luxury hotels “always have to be built according to our style, a neo-classic style; but as we did in other Versace Palazzos, we will also include a few local traditional elements.”
During the press conference, Gian Giacomo Ferraris hinted that Versace’s interest in Asia goes beyond Macau, since this is one of the company’s priority markets. “Palazzo Versace is something deeply rooted in the company’s DNA (…) but why Macau? We are constantly looking at opportunities from around the world and we pay maximum attention to the partner who proposes the project.”
“Geographically, we have been looking at greater China for a while, as this is one of the priority markets for the entire Versace business,” he explained.
The CEO of Gianni Versace emphasized that “Macau in particular is where the company has one of the best performing stores on a worldwide basis” and that the brand’s visibility will benefit from the construction of a Palazzo Versace in Cotai.
The Palazzo Versace concept already exists in Australia and Dubai. According to Gian Giacomo Ferraris, the one to be built in Macau “will be consistent with the previous hotels but still very different from those of Australia and Dubai.”
From SJM’s side, the reason for choosing to partner with Versace lay with its “living style.” “We chose it because it is not only a brand, but also a living style and we feel we need to offer more options to customers in Macau,” said Ambrose So.
In addition, he emphasized that: “Versace is a luxury brand known worldwide and that is suitable for our company,” and promised that SJM will “manage the hotel to their standards.”
At the Cotai Strip, SJM has a total of 70,000 square meters of land for further developments, less than other casino operators. According to Ambrose So, the Palazzo Versace is included in the company’s desire to provide additional non-gambling facilities in Cotai.
He confirmed that SJM is still interested in obtaining more land, particularly lots 7 and 8 of the Cotai Strip. “We are still interested in the land but at the moment, we are waiting for the government’s decision. This would increase our footprint in Cotai, which is essential in order to be at the level of other casino operators [in that area],” he stated. Staff reporter

Copyright@Macau Daily Times