Macau (MNA) – Business is to continue as usual at The 13 Hotel in Cotai despite the company name change, according to comments provided to Macau News Agency (MNA) by the CEO of the company, Walter Craig Power.
“The asset in Macau is unaffected,” confirmed Power.
On Wednesday, The 13 Holdings Limited – the owner of the property in the Macau SAR – announced in a filing with the Hong Kong Stock Exchange that it was changing its name to South Shore Holdings Limited in order to ‘provide a clear delineation’ between its corporate identity and that of its principal asset, the hotel proper.
Speaking to MNA, the CEO said further that he did not believe any impact was anticipated in terms of market perception of the asset, adding that there are no plans on the horizon for changing the hotel name.
The construction cost of the ultra-luxury hotel is estimated at some US$1.4 billion (MOP11.30 billion) or over US$7 million per room, according to the company.
Mr. Power – CEO and Executive Director of the company since February 2013 – is also a member of the Finance and Investment Committee and Executive Committee of the company, as well as a director of various subsidiaries of the company.
Prior to joining The 13, the gaming development veteran, established in the city since 2003, assisted the development of Studio City, a property of Melco Resorts & Entertainment, and worked for The Venetian Macao and Sands.
