Las Vegas Sands, Hilton ink Macau management deal

Las Vegas Sands announced today it has signed a franchise agreement with Hilton Worldwide to manage two hotel towers at its Cotai Strip resort project in Macau.

The two hotel towers on Lot 5 of the Cotai project will be branded under the Conrad and Holiday Inn names. The company also announced today that the property long-referred to as Lots 5 and 6 have officially been named Sands Cotai Central.

Las Vegas Sands President and Chief Operating Officer Michael Leven said on the company’s second quarter earnings call last month that Sands was partnering with two international hotel brands to manage a 600-room, five-star hotel and 1,200-room, four-star hotel on Lot 5 but not did reveal the brands.

Leven said the resorts will include 11 restaurants and bars, 300,000 square feet of meeting space and more than 100,000 square feet of casino space.

The five-star Conrad and four-star Holiday Inn are both scheduled to open in the first quarter of 2012.

On Lot 6A, Sands is scheduled to open a 2,000-room, Sheraton-branded hotel tower and casino in the third quarter of 2012. Another Sheraton hotel tower is planned for Lot 6B.

Sands' net income in Macau increased to $267.4 million in the second quarter this year, compared with $133.6 million in the second quarter last year.