Management agreement signed with developer Venetian Cotai Ltd which is a subsidiary of Venetian Macau  Ltd, to operate the Shangri-La  Hotel,  Macau and the Traders Hotel, Macau, both opening in 2008.

The properties will be located on the Cotai Strip, a few minutes drive from  the  airport  and  20-minute drive from downtown. Cotai, dubbed "Asia's Las Vegas," is a master planned development of hotel properties, casinos, entertainment attractions, retail, and meetings and conventions facilities,   projected   to  become  the  world's  largest  gaming  and entertainment centre.

 The 500-room Shangri-La hotel and 1,000-room Traders hotel will occupy a 39-floor  building,  designed  by  leading  US  and  Asia architects and designers.   Contemporary design, and a full range of facilities and services, will cater toboth convention and leisure travellers to the city. The  tower  will  include  a  casino, performance hall and large retail shopping mall, none of which will be operated by Shangri-La.

"There has been tremendous growth in tourism to Macau in the last couple of years due to the destination's spectacular development and increasing appeal to mainland Chinese and international travellers," said Giovanni Angelini, chief executive officer and managing director of Shangri-La  Hotels  and  Resorts.  "Given the strong loyalty to the Shangri-La brand in the region, and our growing worldwide profile, we see great potential for our new Macau properties."

The  deluxe  Shangri-La hotel will feature spacious guestrooms averaging 54 square metres with views of the Cotai Strip. Several Horizon Club floors  will  offer exclusive privileges of dedicated concierge service, express check-in and check-out, complimentary meeting space, and lounge for complimentary cocktails and refreshments.

Shangri-La's acclaimed, signature spa brand  --  'CHI, The Spa at Shangri-La'  will feature a fusion of Chinese and Himalayan healing therapies inspired by the Shangri-La legend. Treatments will take place in spacious spa suites, designed to create a "spa  within a spa" atmosphere. Recreational facilities, including a health  club, and indoor and outdoor swimming pools, will also be available Creative, stylish dining will be offered by a feature restaurant serving Macanese, Italian and Chinese cuisines.

The property will offer significant meeting and function space, including a grand ballroom, junior ballroom, auditorium and function rooms. The hotel will also have a full service business centre.

Traders  Hotel, Macau, catering to the mid-market travel segment, will provide a comprehensive range of facilities, and swift and friendly service at competitive rates. Guestrooms will average 40 square metres in size. Traders Club floors will offer concierge service, express check-in and check-out, complimentary  meeting  space, and lounge for complimentary cocktails and refreshments. The bustling lobby will be the true "heart of the hotel" complete with all day coffee shop.

"We  are  partnering with Shangri-La due to its long-standing reputation for delivering superlative service,"  said  Frank  McFadden, chief operating officer of Venetian Macau Ltd.  "Establishing both Shangri-La and Traders hotels strategically strengthens the market mix of the Cotai Strip, destined to become 'Asia's Las Vegas.' "