in China; First Focus - Sun Mountain Yabuli Resort
with Three Premium Hotels
|BEIJING, April 30, 2008 ---- Melco China Resorts (“MCR”), an associate
of Melco International Development Limited (“Melco”) (HKSE: 0200) today
topped out two hotels at the Yabuli Sun Mountain resort and broke ground
for its first luxurious mountain home project which will be available for
sale later this year in Heilongjiang Province. The luxurious mountain
homes are designed by internationally acclaimed architects and were introduced
to a limited number of potential buyers today.
“We are delighted to announce the strategic expansion of our business
with MCR to develop, operate and manage world class mountain resorts in
China,” said Lawrence Ho, Chairman and Chief Executive Officer of Melco,
who officiated the event and was accompanied by senior Heilongjiang Province
government officials. “Our move into the burgeoning mountain resort business
in China enables our expansion in the mainland and provides an exceptional
range of new experiences to address the growing need for up-market recreational
activities among the country’s fast growing middle and upper classes. This
is consistent with our desire to attract and retain a discerning customer
base that is actively seeking and willing to pay for a great leisure experience”.
Boasting the highest international standards, including an abundance of international standard on-mountain and resort activities for both accomplished skiers and beginners, and unique “four seasons” facilities and attractions, the result will be China’s premier network of year-round village centered, destination mountain resorts.
“Our commitment is to introduce standards that did not previously exist
in China’s ski industry,” commented Graham Kwan, CEO of MCR. “Our portfolio
of integrated resorts and luxurious resort homes represents a status and
lifestyle pinnacle that was not available in Northern China until now.”
Sun Mountain Yabuli resort is the core focus of MCR’s immediate development plan with three premium hotels, including a luxurious 24 all-suite boutique mountain top hotel. Located approximately two hours south east of the city of Harbin, Yabuli is China’s most recognized destination ski resort and will host the World Winter University Games in early 2009.
MCR will also upgrade the Sky Mountain Beidahu and Star Mountain Beijing resorts, with minor works starting immediately and much larger development planned for the coming years. Meanwhile, work on MCR’s Adventure Mountain Changchun resort and development of the members-only Lotus Mountain Club will be well underway by 2009.
MCR’s World Class Mountain Resorts in China
State-of-the-art equipment - Significant investment has been made in the purchase of state-of-the-art equipment which adheres to international safety standards and introduces services and amenities that have never been seen before in China, including sophisticated snowmaking and grooming technology which will guarantee snow throughout the winter season, eight-passenger heated gondolas imported from Europe, and six-passenger high-speed chair lifts.About Melco International Development Limited
Melco International Development Limited (“Melco”) is one of the companies with the longest history in Hong Kong. Founded in 1910, Melco was among the first one hundred companies established in the city and was listed on the Hong Kong Stock Exchange in 1927. Today, under the leadership of its Chairman & CEO, Lawrence Ho, Melco is now a dynamic New Generation Asian Conglomerate that leads in the leisure and entertainment industry in Asia. Its promising performance and distinctive leadership in the industry are also well recognized worldwide. Melco International Development Limited is a constituent of the MSCI Hong Kong Index, part of the MSCI Standard Index Series. It was granted the Asia’s Best Managed Companies 2007 Award issued by FinanceAsia. For more information, please visit www.melco-group.com.
About Melco China Resorts
MCR’s leadership team boasts a proven record of resort development success both internationally and in China. Several of its directors held key positions at the world’s leading resort and hospitality company, Intrawest - the developer behind Whistler Blackcomb and Mont Tremblant in Canada.
Melco International Development Limited