News

Markets & Investing

Staff Reporter

, Macau

Published:

10 years ago

Versace luxury hotel to be unveiled in Macau

Signs deals with Stanley Ho.

Famous Italian fashion house Versace has signed a deal to build a luxury hotel at a casino-resort in Macau, the world's top gambling market.

Versace and casino operator SJM Holdings Ltd founded by billionaire Stanley Ho said the five-star “Palazzo Versace Hotel” will be part of a resort SJM is building at the Cotai strip. The deal will give Versace access to Chinese visitors with a penchant for luxury European brands.

The Macau hotel will be the third Versace hotel globally after one in Australia and another in Dubai now under construction.

Macau is the only place in China where are casinos are legal. It earned US$38 billion in casino revenue last year thanks to rising numbers of rich mainland Chinese visitors.

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