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Melco Crown taps Hyatt for City of Dreams hotel

Posted on June 03, 2014 11:16:31 PM [ Businessworld Online ]

CASINO OPERATOR Melco Crown Philippines has partnered with an affiliate of Hyatt Hotels and Resorts to manage the third hotel in its new integrated resort in ParaƱaque City.

In a statement attached to a disclosure yesterday, Melco Crown said the Hyatt City of Dreams will have two towers, 365 guestrooms, and is set to open this year.

The hotel will have direct access to a family entertainment center, a live performance lounge, and a nightclub -- all of which are situated inside City of Dreams Manila.

“Given the strong Hyatt brand name and the hotel’s ideal location, we believe Hyatt City of Dreams Manila will attract both business and leisure travelers, as well as meeting and incentive groups, from across the region,” Melco Crown Chairman and President Clarence Chung was quoted in the statement as saying.

The $1.3-billion City of Dreams Manila is a joint venture of Melco Crown and SM Group’s Belle Corp.

Aside from Hyatt City of Dreams Manila, the resort complex will have two other luxury hotels -- a 260-room Crown Towers Hotel and a two-tower, 321-room Nobu Hotel. It will also house a casino, an indoor theme park and high-end restaurants.

City of Dreams is among the four integrated resorts being developed at the Bagong Nayong Pilipino controlled by Philippine Amusement and Gaming Corp.

Melco Crown nearly tripled its net loss year on year in the first quarter to P970.1 million from P338.7 million, due to expenses incurred for the development of City of Dreams.

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