MACAU, Macau - Italian fashion house Versace and Macau casino company SJM say the Versace-themed hotel they're planning for the Asian gambling city will be tweaked to appeal to the local Chinese market and open in 2017.
Versace CEO Gian Giacomo Ferraris said Thursday that the five-star Palazzo Versace hotel would retain the company's "neoclassical style."But he added, "clearly therewill be some fine tuning with the local culture."
He declined to give more details, saying designer Donatella Versace would be responsible for the design.
Versace and SJM Holdings signed a deal last month to build the hotel at SJM's Cotai resort in Macau. The city is a semiautonomous Chinese region that's the world's most lucrative gambling market.
SJM officials said the hotel would open in 2017 and is expected to cost about 2.5 billion Hong Kong dollars ($322 million).
The project gives Versace a new way to raise its profile with mainland Chinese, who account for two-thirds of Macau's visitors. It also gives SJM a big-name brand to help keep up with rivals who have a head start on expanding.
Macau raked in $38 billion in gambling revenue last year, about six times the amount on the Las Vegas Strip.
© Copyright 2013