The Group entered into an Agreement with Waldo Hotel Limited, Waldorf Holding and Waldorf Realty, to provide management services to Waldo Hotel and all commercial space, business, tangible and intangible property in Waldo Hotel (except casino).
Waldo Hotel is an entertainment hotel in Macau. Officially opened in 2004, Waldo Hotel includes around 160 rooms and suites. Waldo Hotel is equipped with wide range of entertainment facilities, including but not limited to seafood restaurants, spa and sauna and casino. Waldo Hotel has been one of the suppliers of hotel rooms to the Group in its sale and distribution of hotel rooms business.
Under the Agreement, the Group will provide management services in relation to the business operation of Waldo Hotel and all commercial space, business, tangible and intangible property in Waldo Hotel including hotel rooms and hotel facilities and its restaurants but excluding the casino from 17 June 2021 to 26 June 2024. The Group shall have the general management powers over Waldo Hotel and the right to sublease the commercial space and business in Waldo Hotel (other than the casino) to a third party.
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