Melco China Resorts tops out Yabuli Ski Resort
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Melco China Resorts tops out Yabuli Ski Resort
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Category: Asia Pacific - China - Industry economy -
Hotel projects
This is a press release selected by our editorial committee and published online for free on 2008-04-30
Owns Largest Ski Portfolio in China Creating Exceptional Destination Resorts and Luxurious Homes
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”.
According to the China Ski Association, the total number of ski visits in China increased at a CAGR of 109% to over 4 million between 1999 and 2004. The number is expected to increase to 10 million by 2010. Capturing this tremendous opportunity, MCR, the largest ski operator in China, is transforming five existing ski areas in the north eastern provinces of Heilongjiang and Jilin into unique, year-round luxury mountain resorts. The company has plans to secure additional areas and develop further resorts in the coming years.
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.”
“Buyers of our homes will have access to a lifestyle that allows them to escape the crowded, hectic urban city centers where they live and work. They can relax and indulge themselves amidst pristine, natural mountain scenery. We are feeding a growing demand for superior lodging and service excellence that snow sports and other outdoor sports enthusiasts seek”, said Kwan.
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.
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