The famous luxury brand from Italy, Versace, has recently signed an agreement to open another ‘Palazzo’ hotel in Cotai, Macau. This Versace luxury hotel will be part of the new casino resort that is being developed there.
Versace is partnering with SJM Holdings from Hong Kong for this agreement, which entails a 5-star Versace luxury hotel opening in Macau’s Chinese city. Thanks to this new location, the company will be the new addition to the two Palazzo Versace luxury hotels currently in Dubai and in Australia.
Along with Hong Kong, Macau is considered to be a special administrative area of China. It was recently featured in the latest James Bond movie “Skyfall” as it is in the People’s Republic region, wherein the lucrative casino business is allowed.
Bloomberg says that Macau has made about $38 billion from its casinos last year. More and more tourists from Hong Kong and China keep streaming in, as well.
Fashion brands seem to be loving luxury hotels nowadays, in general. Giorgio Armani already has two in Milan and Dubai, after all; and Bulgari already has three in Bali, London and Milan, along with restaurants in Japan. They plan on opening something new in Shanghai in 2015, too. Versace is not alone.