The Sheraton is scheduled to open in 2008; the St. Regis in2009. Starwood sources say the Sheraton will be the largest on theCotai Strip and Starwood's largest hotel globally. Representativesfor Miguel Ko, president, Starwood Hotels & Resorts, AsiaPacific, couldn't be reached by GlobeSt.com's publication deadlineto learn the development cost of the projects.

However, construction sources who have followed the developmentprogress of the master-planned Cotai Strip tell GlobeSt.com theSheraton and the St. Regis projects will probably come in with ahard construction cost of $4 billion. They base their estimate on a$750,000-per-room hotel construction cost at the Sheraton and theSt. Regis, and $500,000 per apartment at St. Regis Residences.Sources also point to the $1.8-billion construction cost of the3,000-suite, 10.5-million-sf Venetian Macao Resort also underconstruction on the Cotai Strip by Las Vegas Sands Corp. Thatper-room construction cost comes to $600,000.

"We were so busy with our design and pre-construction activitiesthat we did not even hold a formal groundbreaking for these sites,"Las Vegas Sands Corp. executive vice president Brad Stone says in aprepared statement. "We are now at the point where you will visiblysee the structure rise from the ground and take shape."